"Russia is fully complying with its budget obligations… Economically , we expect growth in the range of 1%. Real incomes of citizens began to increase at the end of 2022 and this trend is expected to continue this year," Siluanov said.

The Russian Finance Minister affirmed that even in the face of sanctions, the government is still trying to ensure that people are not affected and can maintain a standard of living no lower than before. "We have succeeded in this goal," Mr. Siluanov said.

The official further analyzed that Russia's GDP growth momentum has been boosted by a good budget balance policy, reserve accumulation in the National Wealth Fund, proactive industrial strategies and support measures for the population.

A short time ago, Russian Presidential Assistant Maxim Oreshkin assessed that the Russian economy began to develop positively from July 2022 while GDP will reach a growth rate of 1-2% by the end of 2023.

"Our economy has been in the stage of establishment and growth since last July. Now we see that our economy, after falling to a minimum in June last year, has begun to change positively. Business confidence is at a record high. Unemployment has never been so low. GDP will grow by 1-2% by the end of 2023," said Mr. Oreshkin./.

T.Lan (According to Xinhua, TASS)