Putin: the peak of the most difficult economic situation in Russia has been passed
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The peak of the most difficult situation in the Russian economy has been passed, President Vladimir Putin said during a plenary session at the Eastern Economic Forum (WEF).
“The situation is getting back to normal — macroeconomic indicators also speak about it. Inflation is falling, unemployment is at a minimum, public finances are stabilizing,” the president said.
According to him, budget expenditures by the end of 2022 will be 20% higher than in 2021, and the decline “if there is, then insignificant” – 2% of GDP. “Our state finances have stabilized, I want to note that this year’s budget will be drawn up with a surplus of almost half a trillion rubles, somewhere under 485 billion, despite all the gloomy forecasts,” the head of state concluded.
Earlier today, Putin noted that inflation in Russia, unlike in Western countries, is declining – by the end of the year, its level could be about 12%. In July, the Bank of Russia also gave optimistic inflation forecasts. According to the regulator, this year it will be 12-15%, and next year it will drop to 5-7% in 2023. Inflation will return to 4% in 2024. -17% in 2022. At the end of August, the Ministry of Economic Development published data, according to which, over the week from August 23 to 29, annual inflation in Russia slowed to 14.31%.
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