State Council of Tatarstan adopts draft bill on deficit-free budget of the republic for 2024 in the first reading

On November 2, at the continuation of the 48th meeting, the State Council of Tatarstan adopted the draft bill “On the Budget of the Republic of Tatarstan for 2024 and for the planning period of 2025 and 2026" in the first reading. The deputies supported the document unanimously.

According to the forecast, the budget of Tatarstan should become deficit-free next year. Revenues and expenses are expected to amount to 383,9 billion rubles, said Minister of Finance of the Republic Radik Gaizatullin.

The largest volume of budget expenditures is the socio-cultural sphere, he drew attention. It concerns financing the educational sphere, healthcare, museums and theatres, physical culture and sports.

The total revenue of the Tatarstan budget in 2025 is projected at almost 387,2 billion rubles, in 2026 — almost 412,4 billion rubles. Expenses should amount to almost 399,7 billion and 431,3 billion rubles, respectively.

In 2025, Tatarstan's budget deficit is expected to amount to almost 12,5 billion rubles. In 2026, it should amount to 18,87 billion rubles.

“I ask dear deputies to support the bill and approve it in the first reading," said Radik Gaizatullin, reporting on the main indicators of revenues and expenditures of the budget of Tatarstan expected in 2024 and the next two years.

Leonid Yakunin, the chairman of the Tatarstan State Council Committee on Budget, Taxes, and Finance, also offered to support the document. He said that more than 1 thousand people took part in the discussion of the draft republican budget.

Leonid Yakunin said that the budget remains programmatic. Allocations are provided for the implementation of more than 300 republican programmes, it is planned to increase salaries for individual specialists.

“There is a task to increase the revenue side of the budget," Leonid Yakunin said, drawing attention to that an increase is expected for all items of the budget classification in 2024 compared to this year.

The key driver of economic growth should be investment and consumer activity, as well as the expansion of manufacturing industries, according to the chairman of the Committee of the State Council of Tatarstan on Budget, Taxes, and Finance.

“The draft budget for the three-year period is ready for adoption in the first reading," he said, assuring that all amendments will be considered by the second and third, the deadline for their submission is November 10.

Deputy Chairman of the Accounts Chamber of Tatarstan Albert Valeev said that the plans for the revenue of the republican budget for 2024 are achievable. The total amount of federal budget revenues has been increased by more than 4 billion rubles compared to the initial project.

Deputy Chairman of the Committee of the State Council of the Republic on State Construction and Local Self-Government Khafiz Mirgalimov spoke in the debate on the draft budget of Tatarstan for 2024. He stated that the document is realistic and social.

“Salaries are growing in arithmetic progression, while prices — exponentially," Khafiz Mirgalimov drew attention, speaking about the economic situation in Tatarstan and Russia and its accounting by the draft budget.

Alexander Tygin, the chairman of the Tatarstan State Council Committee on Housing Policy and Infrastructure Development, also spoke in the debate. He believes that despite that the budget is formed in difficult conditions, all social obligations will be fulfilled.

Tatarstan Economy Minister Midkhat Shagiakhmetov, speaking to the deputies, said that in 2024 agricultural production will amount to 110,7% in comparable prices to the level of this year. Retail trade turnover is projected at 102,5%.

Let us remind that the draft budget of Tatarstan for 2024 and the planning period of 2025-2026 was submitted for consideration to the State Council of the republic last month. Parliamentary hearings on the document were held on October 19.

The Committee of the State Council of Tatarstan on Budget, Taxes, and Finance supported the draft bill “On the Budget of the Republic of Tatarstan for 2024 and for the planning period of 2025 and 2026" on October 24 and recommended to the parliament to adopt it in the first reading.