GENERICO.ruEconomicsPutin: the situation in the Russian economy turned out to be better than forecasts

Putin: the situation in the Russian economy turned out to be better than forecasts

MOSCOW, September 18 The situation in the Russian economy in terms of key indicators turned out to be significantly better than forecasts, Vladimir Putin said at the meeting according to the draft budget for 2024-2026.

“In general, we can say that the stage of recovery of the Russian economy has been completed. We withstood absolutely unprecedented external pressure and the onslaught of sanctions. <…> Russia’s GDP has reached the level of 2021, and now it is important to create conditions for further stable and long-term development,” the president said.

He recalled that, according to some estimates, a decline in GDP was expected at the end of the year, then the forecast was adjusted to the level of plus 1.2 percent, but in fact the Russian economy has already exceeded this level. At the end of the year, GDP may grow by 2.5-2.8 percent.

Putin noted the good dynamics of growth in consumer demand and the manufacturing industry.
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Despite the fact that there is still a small deficit in the budget for the year as a whole, in August it was once again executed with a surplus, the president indicated.

“It is important that non-oil and gas revenues are significantly higher than last year’s figures. In turn, oil and gas budget revenues in July-August recovered approximately to the level of last year, and taking into account the situation on world markets, active growth continues,” the head of state added.

He clarified that one of the main The problems here are related to the acceleration of inflation.

The President indicated that it is necessary to objectively calculate and compile the new federal budget, based on national priorities and national interests. The state must guarantee the fulfillment of all social obligations, Putin emphasized.
The meeting was attended by representatives of the economic bloc of the government, the leadership of the Central Bank and the presidential administration.


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