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Source:
Sky News
Putin predicts 1% economic growth
Russian President Vladimir Putin expected Russia's economy to grow by 1% during the current year, while inflation remains under significant control and gradually slows down. He also anticipated that the budget deficit would exceed 2% of GDP next year. Meanwhile, the budget last month recorded a surplus of 606 billion rubles (approximately $7.17 billion), based on a conservative oil price estimate of $50 per barrel. Revenues from oil and gas are expected to increase, allowing for the funding of the social welfare fund.
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