Page 76 - RusRPTFeb24

up to 20% of it annual expenditure in December alone – means the end result was 1.9%, but the RUB3.2 trillion deficit also shows that tax revenue collection was ahead of the budget forecasts at the start of the year thanks to strong growth.
At the start of 2023 Russia’s economy was expected to stagnate, but in the last months of year the forecasts for growth were improved several times, ultimately rising from 2.2% predicted at the start of the last quarter to finally end the year with a 3.5% expansion. And on January 11, Russian President Vladimir Putin said according to preliminary estimates growth in 2023 could be as much as 4%.
76 RUSSIA Country Report February 2024 www.intellinews.com