Russia's economy increases by over 2 percent in 2023

2023-08-07 09:36:27

(MENAFN) Russia's economy is likely to increase by over 2 percent this year, according to Minister of Economic Development Maksim Reshetnikov.

Reshetnikov informed TASS that the projection is preliminary and that the ministry will conclude work on its final data well ahead in the ongoing month.

“It will definitely grow by more than 2 percent, but let’s wait for concrete figures. We are now at the stage of making a forecast. That is why everyone is interested, not only in the assessment of this year, but also in the assessment of the next few years,” the minister stated.

The amount is consistent with the Bank of Russia's most recent predictions. The regulator forecast in July that GDP would expand by as much as 2.5 percent by the finish of the year.

In the meantime, the International Monetary Fund forecasted that Russia's GDP will rise by 1.5 percent this year, up from 0.7 percent in April and 0.3 percent in January.

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