The Note analyses fiscal multipliers in the Russian economy and estimates the impact of the fiscal manoeuvre, the start of which is planned for 2019, on GDP growth. Fiscal multipliers in the Russian economy proved to be rather low, in part due to “leakages” through imports and relatively low efficiency of budgetary funds. We estimate the multiplier of total revenue of Russia’s budget at -0.75 and the multiplier of total spending at +0.28. Therefore, changes in the budget revenue produce a stronger effect on GDP growth compared with the effect from the comparable change in expenditures. However, compared to changes in expenditures, changes in revenue feed through to GDP growth more slowly.