MOSCOW (Sputnik) – Speaking at an All-Russia People's Front forum, Putin reminded that the inflation in Russia exceeded 12 percent at the end of 2015.
"Today, our inflation stands at 4.7 percent year on year. This, to be honest, is a rare achievement. Overall this year, the inflation will be greater, it will be at 5.7-5.8 percent."
Earlier, the Russian State Duma adopted the law adjusting the main indices of the federal budget for 2016, setting the level of the budget deficit at 3.7 percent of GDP (3,034 trillion rubles), while the initial rate was 3 percent of GDP.
In mid-October, Russian Finance Minister Anton Siluanov said the deficit was likely to exceed 3.7 percent. The Russian economy suffered a setback in 2014, as the ruble lost about half of its value against the US dollar amid low global oil prices and Western economic sanctions imposed on Russia over the Ukrainian crisis.
