Excerpt: “Overall, as we have previously discussed, last year was notably successful for the Russian economy. The key macroeconomic indicators are in the positive range, owing to the responsible, calculated, and coordinated actions of the government and the business community. We will once again examine them in detail today. I would first like to say a few words about the federal budget. Its deficit last year was estimated at 1.7 percent of GDP. This is an acceptable level, particularly when compared to the state of public finances in certain so-called developed economies. … I must note that inflation was also higher than the Government’s forecast. Naturally, we need to respond. There is something I would like to point out in this regard.”