Russia’s Minister of Economic Development, Maksim Reshetnikov, has announced that the country’s economy is expected to grow by more than 2%. Speaking to TASS news agency, Reshetnikov stated that although the forecast is preliminary, the final figures would be completed by the ministry later this month.
Reshetnikov expressed confidence in the growth projection, stating, “It will definitely grow by more than 2%, but let’s wait for concrete figures. We are now at the stage of making a forecast. That is why everyone is interested, not only in the assessment of this year, but also in the assessment of the next few years.”
This announcement aligns with the latest projections issued by the Bank of Russia. In July, the regulator predicted that Russia’s GDP would grow by up to 2.5% by the end of the current year.
The International Monetary Fund (IMF) also revised its forecasts for Russia’s GDP growth. The IMF now predicts a 1.5% increase in 2023, upgrading its previous forecasts of 0.7% in April and 0.3% in January.
Earlier, the central bank of Russia declared that the recovery phase of the Russian economy had ended and projected a gradual increase in GDP going forward. The regulator reported a year-on-year increase of 4.8% in the second quarter of this year. Additionally, according to the Ministry of Economic Development, the economy added 4.6% from April through June compared to the same period last year.
These positive growth projections indicate a strong trajectory for Russia’s economy, which has been recovering steadily in recent months. The government’s focus on economic development, along with various policy measures, has contributed to this positive outlook.
Russia’s economic growth is significant on a global scale. It not only demonstrates the resilience of the country’s economy but also provides opportunities for increased investment and trade partnerships.
The upcoming final figures from the Ministry of Economic Development will provide a more detailed assessment of Russia’s economic growth. Investors and economists are eagerly awaiting these numbers, as they will provide valuable insights into the country’s economic performance and potential avenues for further development.
In conclusion, Russia’s economy is expected to grow by more than 2% according to the preliminary forecast by Minister of Economic Development Maksim Reshetnikov. This projection is in line with the latest projections by the Bank of Russia and marks a positive trend in Russia’s economic recovery. The upcoming final figures from the Ministry of Economic Development will shed more light on the country’s economic performance and future prospects.
Source link
