MOSCOW, September 24. /TASS/. The Russian economy is experiencing colossal pressure due to sanctions, but these challenges are being countered, Russian Prime Minister Mikhail Mishustin said at a government meeting.
"The Russian economy is experiencing colossal pressure in these conditions. The package of sanctions and restrictions is being expanded by unfriendly countries, logistical, technological, financial and other challenges are emerging," he said. "Nevertheless, under the leadership of the President, through the coordinated efforts of the government and the Bank of Russia, we manage to counter them," the Prime Minister stressed.
Mishustin noted that despite the difficult conditions, it is possible to "support our citizens, businesses, and development projects, creating the basis for further growth."
He added that Russia’s federal budget for 2025-2027 will be executed with deficit, which is expected at the level of half a percent of GDP in 2025.
"Federal budget execution is expected with deficit all three years. In 2025, [deficit is expected -TASS] at the level of half a percent of GDP," he said.
Revenues of the Russian federal budget will grow by 12% next year to 40.296 trillion rubles ($433 bln) while budget expenditures will go up to 41.47 trillion rubles ($445 bln), Mishustin added.