The Russian Federation’s economic growth in 2023 was the highest in the last 10 years, excluding the post-Covid period. This was reported by TASS With reference to a review of the current situation in the Russian economy prepared by the Ministry of Economic Development of the Russian Federation.
According to Rosstat’s initial estimate, as noted in the document, growth in the country’s gross domestic product (GDP) at the end of last year was 3.6%, above most expectations. Compared to the level two years ago, the figure increased by 2.3%.
“Economic growth in 2023 reached the highest growth rate in the last decade (the only exception is growth after the post-Covid recovery in 2021),” the review says.
According to the ministry, the volume of GDP at current prices amounted to 171.041 trillion rubles. The previous year’s GDP deflator index increased by 6.3% compared to 2022 prices.
Russian President Vladimir Putin in January acceptedThe Russian Federation’s GDP growth is predicted to be above 4% by the end of 2024.
Before this, the World Bank (WB) published A report stating that Russia’s expected GDP growth in 2023 could be 2.6%, and 1.3% and 0.9% in the current and future years respectively.
Putin before saidHow the Russian economy should develop.