The VEB Institute changed its forecast for Russia’s economic growth to 2% in 2024. The newspaper reports this.”vedomosti”
In 2023, the Russian economy grew by 3.6%, driven by rapid growth in the manufacturing industry, construction and trade, and information and financial services. According to VEB experts, the main growth factors were stock accumulation, investments and consumer demand.
The economy will grow this year as well, but sanctions pressure, fiscal consolidation and the slowing global economy will limit this potential. In addition, growth will be affected by credit costs and increasing import prices. The VEB Institute’s initial forecast of 1.6 percent growth increased to 2.1 percent in 2024, 1.9 percent in 2025 and 3.4 percent in 2026.
Formerly political scientist appreciated Russia’s chance to achieve technological dominance.
Formerly Central Bank was recorded key rate 16%.