MOSCOW - Russian President Vladimir Putin approved the federal budget for 2025 and the planned period of 2026-2027, according to a document released on the legal-acts portal on Sunday.

Russia's revenues in 2025 are projected to reach about 40.3 trillion rubles ($378.5 billion), while expenditures are expected to amount to over 41 trillion rubles ($390 billion), resulting in a deficit of 0.5 percent of GDP, according to the budget.

Russia's GDP is projected to reach 214.5 trillion rubles ($2.02 trillion) in 2025, rising to 230.5 trillion rubles (2.17 trillion dollars) in 2026 and 248.3 trillion rubles ($2.33 trillion) in 2027. Inflation is forecasted to remain below 4.5 percent in 2025 and 4 percent in the following years.

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Key priorities outlined in the budget include fulfilling social obligations, ensuring national security and defense, advancing technological sovereignty, and developing infrastructure, with a total of 21 trillion rubles ($197.3 billion) allocated for social policies, 14 trillion rubles ($131.5 billion) for defense and law enforcement, and 14 trillion rubles ($131.5 billion) for national economic development over the next three years.