The Organization for Economic Co-operation and Development has improved its forecast for Russia’s gross domestic product (GDP) growth. The OECD expects it to be 0.8 percent by the end of 2023, compared to a decrease of 1.5 percent compared to the previous estimate. This is stated in the report; published on the building’s website.
The OECD expects Russia’s GDP growth to be 0.9% in 2024. At the same time, global GDP will increase by 3% in 2023, and growth will be 2.7% in 2024.
Russian President Vladimir Putin at the meeting on the draft federal budget for 2024-2026 statedHe said that Russia’s GDP managed to reach the 2021 level. The head of state noted that the phase of restoration of the domestic economy is over and withstands unprecedented sanctions pressure.
On September 11, Russian Finance Minister Anton Siluanov said that the recovery of the Russian economy was proceeding at a more dynamic pace than expected. By the end of the year, the GDP growth rate will be above 2% (previously it was estimated at 2.5%).
According to the prediction of the Central Bank of the Russian Federation, the Russian economy will return to balanced growth this year. As of the end of December, GDP growth is expected to be in the range of 1.5-2.5%, in the range of 0.5-1.5% in 2024, in the range of 1-2% in 2025, and in the corridor 1.5-range in 2026. 2.5%.
Putin before stated about the existence of risks for the Russian economy due to concessional mortgages.
Source: Gazeta
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