[Putin: Russia's GDP grew 3.3% year on year in April 2023] the plenary session of the 26th St. Petersburg International Economic Forum began on June 16. Russian President Vladimir Putin delivered a speech. Putin said the second quarter of 2022 is the most difficult period for the Russian economy. But Russia's strategy worked, with GDP rising 3.3 per cent year-on-year in April. Russia adheres to a balanced fiscal policy, with unemployment and inflation hitting record lows of 3.3% and 2.9%, respectively. Russia's fiscal deficit has increased to 3.8% in order to better implement the relevant national and regional plans, but the overall fiscal balance. Russian oil and gas revenue increased by 9.1% from January to May this year, and by 28.5% in May alone. The poverty rate in Russia fell to 9.8%. National disposable income resumed growth in the fourth quarter of last year and is expected to continue to grow this year. Putin said Russia must increase defense spending to ensure national security.