Putin forecasts 1% growth for Russia's economy

Russian President Vladimir Putin expects Russia's economy to grow by approximately 1% this year, with a budget deficit anticipated to stay within about 2% of GDP next year. He noted that inflation is under control and gradually slowing down. A budget surplus of 606 billion rubles (around $7.17 billion) was achieved last month, based on a conservative oil price of $50 per barrel. Russia also expects an increase in its revenues from oil and natural gas, which will bolster efforts to fund the Social Welfare Fund.

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