NOVO-OGAREVO, January 17. /TASS/. Russia's GDP in 2022, according to preliminary data, decreased by only 2.5%, while a decline of up to 20% was forecast, Russian President Vladimir Putin said on Tuesday at a meeting on economic issues.
"According to the Ministry of Economic Development, Russia’s GDP in January-November 2022 declined, but only by 2.1%. There were forecasts - even from our local experts, let alone foreign experts - of a 10%, 15, and even 20% decline," he said, adding, "In general, a decline of 2.5% is expected for the year."
He added that the deficit level of the Russian federal budget as of 2022 year-end is among the best across members of the Group of Twenty. "Deficit of the Russian federal budget amounted to 3.3 trillion rubles ($48.1 bln) or 2.3% of GDP," Putin said. "Such deficit level is among the best indicators across countries of the Group of Twenty," the head of state noted.
At the same time, the volume of oil production in Russia in 2022 reached 535 mln metric tons despite sanctions imposed by the West, he said. "Despite the already mentioned sanctions pressure, oil production in Russia increased by around 2% in 2022 and the production volume amounted to 535 mln tons," Putin noted.