Despite all the restrictions and instabilities in the global economy, Russia as a whole has complied with the sanctions. This was reported by Sharq News BloomerReferring to the Minister of Finance of the Russian Federation Anton Siluanov.
According to him, the financial situation of the Russian Federation looks stable; By the end of 2023, the budget deficit is expected to be just over 1 percent of GDP, down from the planned 2 percent, and economic growth is expected to reach 2.8 percent this year. “We plan to do a lot of work to overcome these sanctions in order to be less dependent on the restrictions imposed by our unfriendly countries and to improve our technologies to be more independent,” Siluanov said.
The head of the Ministry of Finance added that inflation in Russia will be slightly above 7 percent in 2023, but will fall to 4 percent, which is the Central Bank’s target, by the end of 2024. Central Bank at the beginning of October guess Inflation this year is around 6-7 percent.
Previously at the Ministry of Finance statedHe said that the government found the projected ruble exchange rate more profitable.