MOSCOW, July 22. /TASS/. Russian President Vladimir Putin described the country’s key economic sectors as resilient. He noted that Russia’s GDP grew by 0.3% in May and 0.2% in the first five months of 2026.

The president also stressed that the difficulties being created for Russia in the fuel market are temporary and will not affect the country’s economic trajectory.

TASS has compiled the key statements made by the head of state at a meeting on economic issues.

Russian economy

The key sectors of the Russian economy remain resilient: "At the outset of our meeting, I would like to note that the state of the Russian economy and its key sectors remains resilient."

Domestic demand from "the government, businesses, and consumers" has become one of the key drivers of GDP growth.

Russia’s GDP grew 0.3% in May and 0.2% in the first five months of 2026: "According to the Economic Development Ministry’s estimates, Russia’s GDP continued to grow in May, albeit at a modest pace, remaining in positive territory at 0.3%. Overall, growth totaled 0.2% during the first five months of this year."

"Our most important task now is to launch a new investment cycle and boost structural changes in the domestic economy. We will discuss some new decisions in this area separately today."

Structural changes in the Russian economy will also be discussed at the Strategic Development and National Projects Council meeting scheduled for August: "We will continue this discussion [on boosting changes in Russia’s economy] and, I hope, in fact, I am confident, reach specific agreements."

Fuel and energy sector

There are "external attempts to destabilize the situation in the fuel and energy sector, as well as certain other industries."

The difficulties that are being created for Russia in the fuel market are temporary: "Once again, I want to emphasize that the difficulties being created for us in the fuel market are undoubtedly temporary in nature and are not capable of affecting economic dynamics."

Federal budget execution

Russia’s public finances "remain stable."

The federal budget posted a surplus of 196 bln rubles ($2.50 bln) in June: "Both oil-and-gas revenues and revenues not related to the oil-and-gas sector increased."

Russia’s non-oil-and-gas budget revenues in the second quarter were more than 25% higher than in the same period last year: "These so-called non-oil-and-gas revenues were more than a quarter higher in the second quarter of this year than in the same period last year."

Support for regional budgets

Putin instructed the government to provide additional support to regional budgets: "It is necessary to provide additional support to Russia’s regions and their budgets to ensure that the state’s obligations at the regional and municipal levels are fulfilled and that development programs continue."

Consolidated regional budgets posted a deficit in the first half of the year: "The consolidated budgets of Russia’s regions were executed with a deficit in the first half of the year, roughly the same as in the first half of last year."

Putin backed United Russia’s proposal to postpone repayment deadlines for regional budget loans: "Colleagues from United Russia have put forward a new proposal concerning budget loans that regions are due to repay between 2027 and 2029. They propose extending repayment beyond 2030."

The government has been instructed to prepare the necessary legislation so that the changes can be adopted during the fall parliamentary session: "I know that United Russia lawmakers have worked with the Finance Ministry on this issue, and I ask the government to prepare the necessary draft regulations so that, together with State Duma deputies - most likely of the new convocation - these amendments can be adopted during the upcoming fall session."

Under a United Russia initiative adopted in June, repayment of regional budget loans was postponed from 2026 to 2030: "This means that the regions will have more than 100 bln rubles at their disposal this year alone."

Bank lending

Bank lending growth is "accelerating": "I’m talking about mortgage lending, loans to businesses, companies, and the real sector of the economy. The volume of these loan portfolios is increasing."