Siluanov spoke about the difficult project of the federal budget

Russian Finance Minister Anton Siluanov at the plenary session of the Moscow Financial Forum on September 21 said that the federal budget for 2027-2029 will be difficult. Despite the difficulties, we managed to achieve a balance that will not have a negative impact on the economy or the rise in the cost of capital.

Anton Siluanov said that the draft budget for 2027 provides for a deficit of about 2% of GDP. This level of deficit does not pose significant risks to public finances. The minister said that when forming the budget, the conservative oil price at about $50 per barrel was taken into account to take into account the possible decrease in the cost of the resource.

Defense and security remain top budget priorities. “The most important thing now is the tasks of defence, the tasks of the front. And so that people do not feel the concentration of resources, so that all obligations are fulfilled, life was the same as in previous years – we managed to do this, Siluanov said

According to him, the Ministry of Finance made efforts so that the Central Bank could ease monetary policy, which is important for reducing inflation expectations and rates. Anton Siluanov noted the accumulated immunity of the Russian financial system to the “hellish sanctions” of the West and said that the imposed restrictions “bounce back” from the country’s financial policy.