MOSCOW, May 29. /TASS/. The Russian budget deficit is going down for the third year in succession and was 1.7% as of the end of 2024, Prime Minister Mikhail Mishustin said at the Cabinet meeting.
"Now regarding the budget performance in 2024. Its revenues were above 36 trillion rubles ($457.7 bln). The deficit is contracting for the third year in succession; it totaled 1.7%," the prime minister said.
The Russian economy continued its diversification in 2024, which benefited the budget balance. "In the first instance on account of growing weight of the non-oil and gas sector - these are machine-building, construction sector, agriculture and the service sphere. They provided for 70% of budget revenues. The majority of our citizens is working in these segments. They exactly accounted for the bulk of investments in innovations and production expansion," Mishustin said.
The Russian GDP grew by 4.3% in 2024, he added.