(MENAFN) On Tuesday, Sep. 21 Russian Prime Minister Mikhail Mishustin declared at an assembly that the country’s administration projects Russia’s economy to expand by 4.2 pct in 2021.
Mishustin stated: “the recovery of the Russian economy after a rather difficult period is becoming more and more stable. By the end of this year, we expect GDP growth at 4.2%. This suggests that anti-crisis measures have proved their effectiveness.”
Previously, the country’s Ministry of Economic Development released its own estimate, saying the same number for the Russian GDP this year and expecting an additional 3 percent expansion next year. With the steady pullout from the OPEC + oil output agreement set for the coming year, Russia’s oil sector will return to pre-coronavirus level and add to GDP expansion.
In the meantime, the Paris-based Organization for Economic Co-operation and Development (OECD) also adjusted its outlook for the country’s GDP expansion in 2022 to 3.4 percent, which is 0.6 percent higher than its May outlook.
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