MER: Russia’s GDP increased by 5% on an annual basis in October
MOSCOW, November 29 – RIA Novosti. Russia’s GDP growth slowed to 5% year-on-year in October, following 5.6% in September; According to the Ministry of Economic Development’s analysis, GDP increased by 3.2% in the January-October period.About the current situation in the economy“.
On Wednesday, Rosstat reported that the Russian economy grew by 2.9% on an annual basis in the January-September period of this year.
According to the forecast of the Ministry of Economic Development, the GDP of the Russian Federation will grow by 2.8% this year. At the same time, Russian officials have recently expressed more optimistic forecasts, announcing that economic growth will be 3% or higher. The Ministry of Economic Development noted that the main drivers of the economy are manufacturing, construction and agriculture, as well as consumer demand.
According to the Central Bank’s forecast, the Russian economy will grow 2.2-2.7 percent this year and 0.5-1.5 percent in 2024.
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