Since 2000, GDP rose by 75 percent, President Putin said during his annual press conference.

Real wages in Russia increased some 3.5 times since the year 2000, while pensions rose 3.6 times, the country’s President Vladimir Putin said at the annual press conference on December 14, 2017.

“Real wages decreased recently as a result of the crisis that happened during the recent years, but since the beginning of the 2000s, the wages actually went up 3.5 times, while real pensions increased 3.6 times,” the Russian head of state said.

Foreign direct investment in the Russian economy in 2017 more than doubled to USD23 billion.

“This year thus far foreign direct investment reached USD23 billion, which is two-fold more than last year and the best indicator of the last four years,” the Russian leader said.

Earlier, the Minister of Economic Development Maxim Oreshkin reported that foreign direct investment in Russia in the first half of 2017 reached USD14 billion.

Since 2000, Russia’s GDP increased by 75 percent, the Russian President noted.

“The GDP grew by 75 percent between the year 2000 and today, and industrial production increased 70 percent. The processing industry also grew rapidly,” the Russian head of state noted.

Russia’s budget deficit in 2017 will be less than 2.2 percent of the GDP, Putin said.

“We have record-low inflation in Russia’s recent history. As of today, the inflation rate is at 2.5 percent year-on-year. The budget deficit is as 2.2 percent. I think the final figure will actually be even lower,” the head of state said. “All this goes to say that the economy is clearly improving and growing,” Russia’s leader added.

According to preliminary estimates the Finance Ministry, Russia’s budget deficit from January to November 2017 decreased 3.6 times compared to the corresponding period of the previous year and amounted to 532.4 billion rubles, or 0.7 percent of the GDP.

Previously, Russia’s Minister of Finance Anton Siluanov made the announcement that the federal budgetary deficit for 2017 will not exceed two percent of the GDP.