The Ibrox chief executive made the comments in a radio interview yesterday, as he gave his backing to the job currently being undertaken by McCoist.
Rangers sit 20 points clear at the top of the Third Division and McCoist insists his players have done everything asked of them this season as they seek to secure their return to the top-flight at the earliest opportunity.
He said: "I listened to the interview and he was 100% right in what he was saying.
"He was trying to give everybody a realistic idea of where we are at the moment and he was spot on.
"I have to tell you, the players we have brought in have been fantastic. They are doing absolutely everything that's asked of them.
"I said at the start of the season that the only main objective was to get out of the division. They've got us in that position, 20 points clear.
"Where we are at the moment is okay. It's not great and it's not a disaster but in the grand scheme of things it's okay.
"We will make progress this season hopefully by winning the league and getting out of the division.
"Then we can regroup and we can hopefully bring in one or two players who will help the assembled squad and we can move on again."
McCoist hopes Green's comments mean there will be funds available to strengthen his squad for next season.
Rangers are currently under a transfer embargo but can register free agents from September 1.
The manager today confirmed his interest in Dundee United captain Jon Daly, Motherwell midfielder Nicky Law and Middlesbrough defender Andre Bikey.
McCoist said: "That's the ideal scenario, to completely strengthen the squad and get back to a level where we want to be.
"We will have to, without doubt, make some serious investment in the playing squad.
"That's apparent to most football-minded people and we are very well aware of that."
Interim results published this week showed Rangers posted a loss of £7million for the last seven months of 2012.
McCoist is well aware of the importance of avoiding the financial problems of the past but believes investment in players is vital.
He added: "It's been made very apparent that the financial situation that was once at the club cannot be allowed to happen again.
"Myself and every other supporter would echo those sentiments.
"That said, to get back to where we want to get to, there will have to be some form of investment in the playing squad. It's getting the balance right."
Remarking on McCoist's own position in the TalkSport interview, Green commented: "I'm backing him and we are going to get through this. His job's safe, absolutely."
And the Light Blues boss had no issues with his own future being a talking point, saying: "I think it goes with the territory to be fair.
"I would far rather have my position discussed when we're 20 points clear than 20 points behind, that's for sure.
"I speak to Charles on a regular basis and I listened to the interview yesterday and I would have to say he was completely and utterly supportive - as I am of him."