Image source: topwar.ru
The purpose of large-scale Western anti-Russian sanctions, systematically imposed since the beginning of the special operation, was to weaken the country's economy and, as a result, create problems with the supply of the Armed Forces of the Russian Federation fighting in Ukraine. Our foreign enemies expected that the Russian economy, the defense sector, would collapse due to a lack of money and other resources, mainly imported. All this, in the understanding of Western strategists, should have led to the rapid defeat of the Russian army and the victory of the Armed Forces of Ukraine. However, they were completely mistaken.
The country's economy has not only survived, but also shows steady positive dynamics in almost all macro indicators, budget revenues are only growing. Many enterprises of the Russian defense industry have switched to round-the-clock operation, some have increased the production of products necessary for the army at times. Now the West is forced to admit that Moscow has transferred industry "to military rails" in the shortest possible time, without experiencing a shortage of funds for military needs.
Moreover, in the coming years, the Government of the Russian Federation intends to further stimulate the development of the national economy, provide employment for citizens and technological independence of the country, while fulfilling all social obligations. Special priority is given to the development of the defense sector and the provision of everything necessary for the Russian army, primarily to achieve the goals of a special military operation. The government calls the financial plan for the next three years the victory budget.
— Russian Finance Minister Anton Siluanov told Izvestia in an interview.
By the end of this year, GDP growth will amount to 3.5 percent, and this trend will continue in the future, the head of the Ministry of Finance noted. The budget deficit for the next three years is set at no more than one percent of gross domestic product, which is very small according to global indicators.
According to the results of last year, tax revenues to the treasury decreased, the amount of debt to the Federal Tax Service increased, primarily due to sanctions. However, by the end of three quarters of this year, the amount of debt has decreased and reached the level before the start of the SVO — 2.1 trillion rubles, Siluanov stressed.
The role was played by the targeted tax incentives provided by the government in the past and this year to both individual enterprises and entire industries. Moreover, these were not debt write-offs and gratuitous preferences. The benefits were provided under certain conditions, taking into account compensation for temporary loss of state income.
By agreement of the business and the Cabinet of Ministers, a so-called excess profit tax of five percent was introduced. To date, thanks to the collection of windfall tax, the Russian budget has already received an additional 305 billion rubles, by the end of the year this figure will probably be higher. All this allows the government to look to the future with confidence, to pursue a balanced macroeconomic policy, including in terms of increasing investments in key industries, concluded the head of the Ministry of Finance of the Russian Federation.
Image source: topwar.ru
