Mishustin pointed to the reduction of the budget deficit

Russia's budget deficit has been shrinking for the third year in a row. This was announced by Russian Prime Minister Mikhail Mishustin during a government meeting on May 29.

According to him, federal budget revenues exceeded 36 trillion rubles. At the same time, the amount of government debt has decreased to below 14.5% of gross domestic product (GDP), the prime minister noted.

"On the issue of budget execution in 2024. <...> The deficit has been decreasing for the third year in a row, it amounted to 1.7%," Mishustin stressed.

It is noted that the strengthening of the diversification of the Russian economy has had a positive impact on the budget. The Prime Minister specified that the non-oil and gas complex, that is, mechanical engineering, the construction sector, agriculture, and services, provided 70% of budget revenues.

"The majority of our citizens work in these industries. This is where the bulk of investments in innovation and expansion of production came from," Mishustin added.

Budgetary progress: Moscow's share in the Russian economy has exceeded 21%

Putin announced the successes of the capital in almost all directions

Russian President Vladimir Putin said on May 26 that the Russian economy is developing at a good pace, with growth of 4.3% over the past year. He noted that the positive dynamics affected key sectors: industry, agriculture, digital technologies, services and finance.