Russia's GDP to grow by 1 percent through 2023

MOSCOW, June 6 (Xinhua) -- Russia's GDP is projected to grow by 1 percent this year, accompanied by an anticipated increase in real income for the population, Russian Finance Minister Anton Siluanov said on Tuesday.

File photo: Xinhua

"Russia fully complies with its budgetary obligations," Siluanov said. "In terms of the economy, we expect growth within 1 percent, plus or minus."

The real income of the population began to rise at the end of 2022 and this trend is expected to continue this year, according to Siluanov.

"Despite all the sanctions, the government's main task is to ensure that people do not feel the impact and are able to maintain a standard of living no lower than it was before all these restrictions. We have been successful in achieving this," Siluanov said.

The growth in GDP has been facilitated by a well-balanced budget policy, the accumulation of reserves in the National Wealth Fund, proactive industrial strategies, and supportive measures for citizens, he added.