Russia’s annual GDP growth accelerated in January 19:41

Russia’s annual GDP growth increased from 4.4% in December 2023 to 4.6% in January 2024. This was reported by TASS According to data from the Ministry of Economic Development.

According to the Ministry, in January, GDP exceeded the same period last year by 4.6%, while in December this increase was 4.4%. GDP grew 1.9% at the January 2022 level, following 2.3% growth in 2021 a month earlier.

According to preliminary data from Rosstat, GDP growth reached 3.6% at the end of 2023. This figure was 5.1% in the fourth quarter and 4.6% in December. The volume of GDP at current prices reached 171.041 trillion rubles.

The Ministry of Economic Development predicts that Russia’s GDP growth will be 2.3% by the end of 2024. The Bank of Russia expects the indicator to increase by 0.5-1.5%.

The other day, it was learned that economists from the Russian Academy of National Economy and Public Administration (RANEPA) claimed that the Russian economy will continue to grow despite the tightening of sanctions. In their article in the journal “Economic Issues” they presented two development scenarios that increase sanctions pressure.

GDP growth in a conservative scenario according to forecasts will slow down It will drop to 0.3% in 2024, but rise to 1.4-1.5% in subsequent years. In the basic scenario, the economy will grow by 1.5-2.2 percent. Scientists state that the Russian economy is more resistant to sanctions than expected and that the authorities have successfully minimized the negative consequences of sanctions.

Previously, Putin evaluated the balance in the Russian economy

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Source: Gazeta

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