Russian Finance Minister expects 1% GDP growth and increase in real income for population


6th June 2023 – (Moscow) According to Anton Siluanov, the Finance Minister of Russia, the country’s GDP is expected to grow by 1 percent this year, and this growth is likely to be accompanied by an increase in real income for the population. Siluanov stated that Russia is fully complying with its budgetary obligations and expects the economy to grow within 1 percent, plus or minus.

Siluanov also mentioned that the real income of the population started to rise at the end of 2022, and this trend is expected to continue throughout the year. Despite the imposition of sanctions, the government’s main goal is to ensure that people maintain a standard of living no lower than before, and Russia has been successful in achieving this, he said.

The Finance Minister attributed the growth in GDP to a well-balanced budget policy, the accumulation of reserves in the National Wealth Fund, proactive industrial strategies, and supportive measures for citizens.