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to slow down due to a decline in the contribution of the budget channel (net claims of the banking system on general government) to their

Precious Metals-Denominated Budget Funds in Accounts of Credit Institutions (millions of rubles) of which Date Total regional and local federal budget funds other budget funds

addition to credit, demand in the economy was also boosted by higher budget spending through government orders, investment, and payments. I would like to emphasise

affect inflation) was driven by affordable credit, rising inflation expectations, and increased budget spending. I would like to reiterate that we are currently in a

financed from the funds raised under the federal programme Stimul and infrastructure budget loans. However, developers complained about soaring costs due to more expensive reinforcements

accumulated in recent months. The parameters of the draft 2024–2026 federal budget submitted to the State Duma provide for the maintenance in 2024 of

culture. ‘Planning incomes and expenses, informed financial behaviour and participation in the budgeting process should be integrated in the cultural code of a man of

as well as the effect of higher government expenditures in the new budget. This year, prices will go up by 7.0–7.5%. Next

It is crucial to understand how potential changes in the long-term structural budget deficit or surplus may affect inflation. An important area of research is

the medium-term expenditure path of the federal budget and the fiscal system as a whole. If the budget deficit increases further, proinflationary risks will rise