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Russian Economy Surpasses Europe in 2024
(MENAFN) In 2024, the Russian economy reached an amount of 200 trillion rubles (USD2.37 trillion), increasing six times more rapidly than Europe, based on Premier Mikhail Mishustin’s statement on Wednesday.
Mishustin highlighted that domestic demand was the key driver behind the economic growth.
Speaking in the State Duma, Russia’s lower chamber of parliament, he noted that fixed capital investments increased by 7.5 percent the previous year.
Additionally, Mishustin reported that Russians' disposable income surged by 8.5 percent in 2024, whereas the unemployment percentage dropped to its lowest rate in history.
The Premier also pointed out that Russia's economy has grown twice as fast as the global average over the past two years. “Russia is among the four largest economies in the world in terms of purchasing power parity,” Mishustin stated. “Our economy grew 4.1 percent last year. Our growth in two years has exceeded Europe’s almost sixfold.”
Mishustin highlighted that domestic demand was the key driver behind the economic growth.
Speaking in the State Duma, Russia’s lower chamber of parliament, he noted that fixed capital investments increased by 7.5 percent the previous year.
Additionally, Mishustin reported that Russians' disposable income surged by 8.5 percent in 2024, whereas the unemployment percentage dropped to its lowest rate in history.
The Premier also pointed out that Russia's economy has grown twice as fast as the global average over the past two years. “Russia is among the four largest economies in the world in terms of purchasing power parity,” Mishustin stated. “Our economy grew 4.1 percent last year. Our growth in two years has exceeded Europe’s almost sixfold.”
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