January GDP growth is estimated at 4.6%, according to the Russian government. Wages have risen by double digits, and poverty and unemployment are at record lows, the government says.
The country is facing new challenges, including budget deficits, which can lead to "long-term problems," the government warns. The Russian parliament is expected to vote on a new budget this week, which could lead to more budget cuts, the Kremlin says. It is the first time the Russian parliament has voted on a budget in more than a decade.