Mishustin announced plans to reduce the non-oil and gas deficit in Russia

Russia plans to increase revenues not related to the sale of the country's energy resources, as well as reduce the non-oil and gas deficit, which will significantly curb inflation. This was announced on April 23 by Russian Prime Minister Mikhail Mishustin during an expanded meeting of the Board of the Ministry of Finance at the Rossiya National Center.

"On behalf of the head of state [Vladimir Putin], a long-term financial plan was prepared until 2030 <... > It is also expected to further reduce the non-oil and gas deficit and increase revenues that are not related to the sale of our energy resources. This will help, among other things, to contain inflationary processes, but also to strengthen our financial sovereignty in the medium term," he said.

In addition, Mishustin noted that according to updated data, Russia's gross domestic product (GDP) increased 4.3% last year. According to him, this figure turned out to be even higher than in 2023, when the growth dynamics "significantly exceeded the indicators of those countries that imposed sanctions against Russia."

At the same time, the prime minister added that the budget deficit remained at the planned values, and the level of public debt relative to GDP decreased.

Less is better, but better: budget deficit is decreasing in Russia

The volume of tax revenues continues to grow steadily

Earlier, on March 26, Mishustin reported that by the end of 2024, the Russian economy is growing for the second year in a row, outpacing the global average growth rate and significantly exceeding the indicators of European countries. According to him, such success is primarily the merit of citizens, many domestic companies and the result of the accurate fulfillment of the instructions of the President of the Russian Federation.