Estimates of the economy’s dynamics for this year are also higher than those we had initially included in our forecasts, the minister added in an interview for the television channel, Rossiya 24.

Siluanov recalled that last year this figure was 3.6 percent, and added that Russia’s budget deficit of 1.1 percent of GDP is forecast for the end of the current year.

The economy is developing at a faster pace than we and experts expected, he said.

According to Siluanov, the Russian Finance Ministry has already started working on the budget for 2025-2027. He added that the budget priorities are technological development, support for regions and families with minors.

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