Russian Prime Minister Mikhail Mishustin has stated that the Russian economy maintains good growth rates and shows a trend of confident development.
In 2023, the government implemented a series of measures that yielded expected results. This is evident from the dynamics of GDP and positive changes in many sectors of the economy.
According to the Ministry of Economic Development’s assessment, in January 2024, Russian GDP grew by 5% compared to the same month a year earlier. In February, the growth reached 7.7%. Moreover, the volume of industrial production increased by 8.5%. It is crucial that the manufacturing industry is the locomotive of Russia’s economic growth, showing record growth rates due to increased demand for Russian goods and services. Mishustin emphasized the importance of maintaining this momentum.
Russian President Vladimir Putin stated in his address to the Federal Assembly that by 2030, Russia should enter the top four largest economies. To achieve this goal, active and simultaneous actions in several directions are necessary, said the Prime Minister of Russia.
Earlier, Rosstat reported that Russia finished 2023 with an economic growth of 3.6%. The Ministry of Economic Development forecasts a GDP growth of 2% in 2024.
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