Russia offered to allocate $ 6 billion for loans to other countries annually

Russia plans to allocate $ 6 billion of state financial and export loans annually to other countries during 2027-2029. This is stated in the explanatory note to the draft budget for the next three years.

According to the document, in 2027, Russia intends to allocate 524.4 billion rubles. ($ 6 billion) to provide loans to other countries, in 2028 - 552 billion rubles. ($ 6 billion), and in 2029 - 576 billion rubles. ($ 6 billion).

“These amounts of funds are necessary for the completion of existing projects and the fulfillment by the Russian Federation of obligations under existing intergovernmental agreements, as well as for the purpose of providing state financial support for the export of industrial products in industries where a high level of competitiveness of domestic products remains,” the explanatory note says.

The government submitted to the State Duma the draft federal budget for 2027 and the planning period of 2028 and 2029 on September 30. The first reading of the draft in the lower house of parliament is scheduled for October 29.

According to the project, state revenues in 2027 will reach 43.Z trillion rubles, and expenses - 48.7 trillion rubles. The budget deficit will be 5.4 trillion rubles (2.2 percent of GDP). The costs will be higher than expected in last year’s three-year budget.