Russian Prime Minister Mikhail Mishustin has announced the expected stable growth of the Russian economy in the next three years. According to the baseline scenario, the GDP will increase annually by 2.3-2.4%.
He also noted that the Russian economy has been able to adapt to new conditions. It is transforming in line with the tasks that the country has to solve.
The words of the Russian Prime Minister are confirmed by the IMF forecast. Recently, the fund revised it upwards. Now the IMF expects that in 2024, Russia’s GDP will grow by 3.2%, and in 2025 by 1.8%.
Earlier, Mikhail Mishustin stated that Russia’s economy could enter the top four largest economies in the world by purchasing power parity. He noted that the Russian economy has gone through a very difficult period due to unprecedented external pressure but has been able to adapt to the situation. Moreover, it demonstrates significant growth. At the same time, the growth rates of the economies of European countries are close to zero. And the largest economy in Europe, Germany, contracted by 0.3% in 2023.
Experts note that Russian goods are becoming increasingly competitive in global markets thanks to cheap resources.
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