Officials say the Russian economy is showing strong growth in many sectors despite Western sanctions over the conflict in Ukraine. Reuters.
Industrial production rose 3.3% in July from 2.7% the previous month, according to new data released on Wednesday. Year-to-date growth has been 4.8%, compared with 3.1% in the same period in 2023.
The preliminary estimate for GDP growth for the first half of the year reached 4.6%, compared to 1.8% a year earlier.
“Given such strong results in the first half of the year, we expect higher results for the full year 2024 than we initially forecast,” Deputy Economy Minister Polina Kryuchkova said.
Economic growth was driven by significant capital investment, including from the private sector. Investment rose 8.3% year-on-year to RUB 8.44 trillion ($92 billion) in the second quarter, following growth of 14.5% in the first quarter.
Before that it was known as Estonia. anxious While other European countries are growing, the recession has returned to the level of seven years ago. Estonia is the only country in Europe whose economy is shrinking, despite growth in Ukraine and Russia, said Andrei Korobeinik, deputy chairman of the Estonian Fiscal Commission.
Former MP in the name limit developers’ super profits.