Novak pointed to the stability of the Russian economy against the background of sanctions pressure

The Russian economy is showing resilience despite the sanctions pressure. This was stated on March 18 by Deputy Chairman of the Government of the Russian Federation Alexander Novak during a speech at the final meeting of the Board of the Ministry of Economic Development.

"Despite unprecedented sanctions pressure and an objective slowdown after a phase of active growth, the Russian economy is demonstrating resilience," Novak said.

He clarified that in three years, cumulative GDP growth has amounted to more than 10%, which, according to him, exceeds world figures. In addition, by the end of 2025, inflation slowed to 5.6%, and household income growth amounted to 7.7%.

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Novak noted on February 3 that inflation in Russia in 2026 will be at the level of 4-4.5%. According to him, this year the inflation indicators will approach the target of the Central Bank (CB) for December 2025 — 4%. This is the target inflation rate that the regulator is targeting.

Kremlin spokesman Dmitry Peskov said on March 16 that rising global oil prices and the lifting of US sanctions on Russian oil would increase revenues to the country's budget.

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