Matvienko calls Russia’s 2027-2029 budget draft “financial art”
In short
Federation Council speaker Valentina Matvienko praised the federal budget draft for 2027-2029 at parliamentary hearings, calling it “financial art” and saying it is balanced and that all social obligations are guaranteed. Vedomosti reported the draft, submitted by the government to the State Duma on Sept 30, forecasts revenues of 43.3 trillion rubles in 2027 and spending of 48.8 trillion rubles, rising to 48.6 trillion and 53.9 trillion rubles respectively by 2029. President Vladimir Putin, also on Sept 30, said all social obligations to Russians must be met in full and called for sufficient funding for demographic tasks, housing and family welfare.
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Federation Council speaker Valentina Matvienko said the federal budget draft for 2027-2029 prepared by the Finance Ministry is “financial art”, speaking at parliamentary hearings, Vedomosti reported. “The budget now presented for the three-year period is not simply a sign of the highest professionalism, but, I would say, of financial art,” she said, in a quote Vedomosti attributed to RIA Novosti. Matvienko said the budget is balanced and that the state guarantees citizens that all social obligations will be carried out, and that the priorities defined by the president are fully financed, Vedomosti reported. RIA Novosti’s headline also reported that Matvienko praised the 2027-2029 budget draft. [ 1 , 2 ]
The government submitted the draft law on the federal budget for 2027 and the planning years 2028 and 2029 to the State Duma on Sept 30, according to Vedomosti. The draft forecasts revenues of 43.3 trillion rubles in 2027, 45.8 trillion in 2028 and 48.6 trillion in 2029. Spending is put at 48.8 trillion rubles in 2027, 50.9 trillion in 2028 and 53.9 trillion in 2029. [ 2 ]
On the same day, President Vladimir Putin said all of the state’s social obligations to Russians must be fulfilled in full when the new budget is formed, Vedomosti reported. He called for sufficient financing to be provided for demographic tasks, for improving housing conditions and for raising the welfare of Russian families, above all families with children. [ 2 ]
The documents do not say when the State Duma will consider the draft, where the parliamentary hearings were held, or how any gap between the projected revenue and spending would be covered. RIA Novosti’s item was available only as a headline, without article text. [ 1 , 2 ]
Why it matters
The draft sets federal revenue and spending plans for the next three years, and the speaker’s endorsement at parliamentary hearings precedes its consideration in the State Duma. The reported figures show planned spending above planned revenue in each year of the three-year period. Both the speaker and the president, as cited in the coverage, frame the social commitments in the draft as fully financed, which is the main point the official and business outlets emphasise.
Key facts
- Federation Council speaker Valentina Matvienko said the 2027-2029 budget draft is “financial art”, speaking at parliamentary hearings. [ 1 , 2 ]
- Matvienko said the budget is balanced and that the state guarantees all social obligations to citizens. [ 2 ]
- Matvienko said the priorities set by the president are fully financed in the draft. [ 2 ]
- The government submitted the draft federal budget for 2027 and the planning period 2028-2029 to the State Duma on Sept 30. [ 2 ]
- The draft forecasts revenues of 43.3 trillion rubles in 2027, 45.8 trillion in 2028 and 48.6 trillion in 2029. [ 2 ]
- The draft sets spending at 48.8 trillion rubles in 2027, 50.9 trillion in 2028 and 53.9 trillion in 2029. [ 2 ]
- President Vladimir Putin said all social obligations of the state to Russians must be fulfilled in full in the new budget, and called for sufficient funding for demographic tasks, better housing and higher welfare for families, especially families with children. [ 2 ]
Confirmed by several sources
Still unclear
- When the State Duma will consider or adopt the budget draft. Neither document gives a schedule for parliamentary consideration or a vote.
- Where the parliamentary hearings took place. The documents do not name a city.
- What further detail RIA Novosti published on Matvienko’s remarks. Only the outlet’s headline was available; its article text was not.
- How the difference between projected revenue and spending will be covered. Vedomosti reports both figures but says nothing about the deficit or its financing.
What local media are saying
Timeline, local time
- The government submits the draft federal budget for 2027 and the planning period 2028-2029 to the State Duma, and President Vladimir Putin says all social obligations must be fulfilled in full. [ 2 ]
- RIA Novosti reports that Matvienko praised the 2027-2029 budget draft. [ 1 ]
- Vedomosti reports Matvienko’s “financial art” remark at parliamentary hearings and the draft’s revenue and spending forecasts. [ 2 ]