In 2023, there was a significant increase in the revenues of the non-oil and gas sector of the Russian economy, President Vladimir Putin said.
In the fourth quarter of 2023, Russia’s non-oil and gas revenues turned out to be almost half a trillion roubles more than expected, and for the whole of 2023 grew by almost 25%. This was announced by Russian President Vladimir Putin at a meeting on economic issues.
“Last year, the federal budget deficit was 1.9 per cent. At the same time, non-oil and gas revenues grew by about a quarter. Among other things, in the fourth quarter they were almost half a trillion roubles more than expected. And in January this year, they added about 85% compared to last year’s figure,” he said.
The President pointed out that “the positive dynamics of the real sector and confident work of business increases the stability of public finances. Vladimir Putin once again emphasised the growing role of non-resource, manufacturing industries.
Recall, earlier Russian President Vladimir Putin announced the growth of the country’s Gross Domestic Product by 3.5% by the end of 2023.