Russian President Vladimir Putin announced at a meeting dedicated to economic issues that Russia’s non-oil and gas revenues in 2023 increased by almost 25%.
Last year, the federal budget deficit was 1.9 per cent of one per cent. At the same time, non-oil and gas revenues increased by about a quarter […] In January this year, they were up about 85 per cent year-on-year.
Putin noted the growing importance of the non-oil industry, showing that Russia’s economy is developing despite another package of sanctions recently agreed by the EU.
Russia’s GDP added 3.6% in 2023, generally higher than anticipated. Inflation in Russia in annual terms at the end of January was 7.2%, but consumer prices rose by 7.4%, the president added.
Permanent Representative of Russia to the United Nations, Vasily Nebenzya, stated that the West was trying to inflict a “strategic defeat on Russia,” but the country’s economy continued to grow.
We have realised that we cannot rely on Europe or the US on the economic front. We have to do what we have to do.
