Putin called 2024 quite successful for Russia's economy

The past year 2024 was quite successful for the Russian economy. Russian President Vladimir Putin said this during a meeting on economic issues.

"On the whole <...> last year was quite successful for the Russian economy. Key macroindicators thanks to responsible, calculated and joint actions of the state and the business community are in the positive zone," Putin said.

He said that the Russian federal budget deficit amounted to 1.7% of the gross domestic product (GDP) and this corresponds to the calculations that were included in the project prepared for 2025-2027.

The Russian President added that the budget deficit in the country is at an acceptable level, especially if we take into account the situation in the economies of developed countries. In particular, in 2024, the budget deficit in relation to GDP in the United States and France amounted to 6.2%, in Italy - 3.8%, in Japan - 3.7%, and in Germany - 2.2%.

Russia has adopted a federal budget for three years. What you need to know

On January 20, the Russian Finance Ministry explained that the increase in spending from the budget is due in part to the advance transfer of certain expenditures that are planned for 2025. This way of distributing funds, as the ministry pointed out, will help increase flexibility in managing the structure of marginal budget allocations.

Before that, on December 4 last year, Russian Finance Minister Anton Siluanov said that the federal budget for 2025 is very tight, because the project is balanced at the primary level and it has a deficit of 1% of GDP. In addition, the head of the Ministry of Finance emphasized that this budget will be executed at any values of the ruble exchange rate, adds "Gazeta.Ru".