Excerpts from the transcript:
Government meeting
Government meeting
Government meeting. Finance Minister Anton Siluanov
Government meeting
Mikhail Mishustin: Good afternoon, colleagues.
Last week, the State Duma passed in the third and final reading the law on the 2025–2027 federal budget which was approved at a plenary session of the Federation Council yesterday.
I would like to thank Ms Matviyenko and Mr Volodin, as well as all deputies and senators for accomplishing this very important work.
In conjunction with both chambers of the Federal Assembly, the ministries and agencies have put together the country’s main financial document. They have designated the expenditure items aimed at improving people’s living conditions, the well-being of Russian families, expanding the infrastructure, strengthening technological sovereignty, and ensuring the economic stability of the regions and the country in general.
The three-year budget places great emphasis on achieving the national development goals outlined by the President. I would like to emphasise once again that all social obligations to the citizens will be fulfilled. Funds to this end have been set aside.
Let’s now move on to the agenda of the Government meeting.
Today, we will review the outcomes of the country’s budget execution for nine months. The budget was implemented with a surplus. The excess of revenue over expenditure amounted to almost 580 billion roubles, which was due to a steady growth in revenue from non-resource industries and the oil and gas sector.
Over the three quarters, more investment was made in supporting innovation-driven enterprises, launching advanced production facilities, and producing goods and services, as well as organising jobs.
The President noted that fulfilling these goals will make it possible to create a supply-side economy and move to a whole new level of development.
We have provided resources to national projects as well. All of them are geared primarily at improving the quality of life in large cities and small population centres, and creating proper conditions for helping people fulfil their potential.
Finance Minister Anton Siluanov will report on the budget outcomes for the first nine months later.
The next item concerns the development of transport corridors in the Sea of Azov-Black Sea and eastern directions, as well as the international North-South Corridor. This is an ambitious goal set by the President. It is crucial for expanding foreign trade in view of the sanctions restrictions.
Overall, this sphere is marked by steady positive dynamics. Construction and assembly operations are underway at the Eastern Operating Domain as part of the second renovation phase. The first seven facilities have been temporarily put into operation. Preliminary parameters of the third phase have been formed.
We plan to see the aggregate carrying capacity of the Baikal-Amur Mainline and Trans-Siberian Railway in the amount of 180 million tonnes. This instruction was issued by the President.
Speaking of the access railways to the ports of the Sea of Azov-Black Sea basin, we have reached the figure of 125 million tonnes.
The road construction efforts have brought tangible results. The construction of a motorway connecting Krasnodar with Temryuk will be completed before the year end. It will connect the Don and Tavrida motorways and make it possible to increase Crimea-bound traffic to 40,000 vehicles per day.
Major repairs have been completed on a number of sections of the R-217 Kavkaz Motorway up to the border with Azerbaijan. The checkpoints have been upgraded, and their capacity expanded five-fold compared to 2021. The speed of southbound traffic is significantly up.
There is progress in developing seaports and inland waterways. The Government is carrying out this comprehensive project in accordance with the roadmaps that were approved two years ago and may need to be updated.
In his May executive order, the President outlined updated national goals and the importance of increasing traffic along international transport corridors by at least 50 percent in six years as compared to 2021. In order to be able to meet the new challenges, it is imperative to scrutinise the existing plans and initiatives. That includes synchronising them with the Northern Sea Route expansion schedules. The timeframe for creating international infrastructure by our international partners needs to be taken into account as well.
We will make adjustments on as-needed basis. The key goal here is to increase the global competitiveness of the routes, as their development is of strategic importance for our country. These routes are crucial for ensuring freight traffic to friendly countries in South and South-East Asia, the Caspian region, and the South Caucasus, as well as the Persian Gulf and Africa.
There’s one more question.
The Government continues to help the Russian regions as part of the modernisation effort to upgrade the housing and utilities sector. This matter carries a sense of urgency at any time, especially now, during the autumn and winter. At the last meeting of the Cabinet of Ministers, we discussed in detail the readiness of the housing and utilities and energy companies for that period.
Today, we will allocate an additional 3.5 billion roubles to the budgets of the Donetsk and Lugansk people's republics, and the Zaporozhye and Kherson regions. These funds will be used to maintain the stable operation of heating and water supply systems and to improve their reliability. People in the new Russian constituent entities must have light and heat in their flats and houses regardless of the weather.
Let us move on to the discussion. I turn the floor over to Finance Minister Anton Siluanov for him to report on the implementation of the federal budget during the first nine months of the year.
Mr Siluanov, over to you.
More to be posted soon…
