Russia will integrate the digital ruble into its federal budget system in 2024, aiming for full adoption by July 2025, President Putin announced.
At the 15th VTB Russia Calling! Investment Forum, President Vladimir Putin declared that Russia intends to incorporate its central bank digital currency (CBDC), the digital ruble, into its federal budget system beginning next year.
The goal is to achieve nationwide adoption by July 1, 2025. Putin underscored the importance of infrastructure development in order to facilitate operations and reduce costs, as part of ongoing initiatives to improve business efficiency.
The initiative is consistent with Russia’s efforts to enhance the ruble’s significance in international transactions.
This action is a component of the nation’s strategy to modernize its financial systems and adjust to digital advancements, thereby guaranteeing cost-effective and seamless budgetary processes.
