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Negative predictions did not come true: federal budget revenues exceeded forecasts by 135 billion rubles

Date: May 22, 2024 Time: 17:02:09

As the Prime Minister said, the income of the federal budget for the first half of the year exceeded the forecast by 135 billion rubles. Photo: Dmitry Astakhov/POOL/TASS

There were no difficulties in filling the federal treasury, the negative forecasts of experts did not come true. This was announced by Mikhail Mishustin at a government meeting on Wednesday.

As the Prime Minister said, the income of the federal budget for the first half of the year exceeded the forecast by 135 billion rubles. In total, budget revenues exceeded 12 trillion rubles.

At the same time, non-oil and gas revenues are rising.

– They account for almost 3 out of 4 rubles of income, which confirms the increased budget stability. This trend has even intensified compared to the first quarter, Mishustin said.

At the same time, the Prime Minister stressed the social orientation of the budget: we are talking about financing medical, social and other programs related to supporting people.

– Including utilities and construction of housing, roads and emergency housing resettlement. And of course we are putting measures in place to support businesses and ensure economic growth,” the Prime Minister said.

Mishustin also said that Russian companies, despite the sanctions and changes in logistics routes, quickly adapted to the new conditions and increased production volumes. Thus, in the first half of the year, the manufacturing industry index increased by more than 6%.

The government expects those industries where the biggest decline has occurred to also grow. For example, growth in the motor vehicle industry could be around 2%.

– In the segment of machines and equipment, about 3.5%, and in the sector of medicines and preparations, almost 8%, – said Mishustin.

The Prime Minister also said that the Cabinet of Ministers has prepared an updated strategy for the development of the manufacturing industry in the long term.

– The main goal is to increase the index of manufacturing industries by 55% over the next 12 years compared to the base year 2019. Furthermore, in the same period labor productivity should almost double,” Mishustin said.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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