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Putin estimates Russian economic growth to exceed 3% in 2024
Russian President Vladimir Putin estimated on Thursday that the gross domestic product (GDP) will grow by more than 3% in 2024, the third year of the war with Ukraine.
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Economia Rússia
"The current state of the economy allows us to improve our forecasts for its development. Many experts are talking about the growth of Russian GDP by more than 3% this year," he said.
Putin chaired a government meeting today, a working day in Russia due to the May holidays, on the state of the economy and also on the development prospects for the next six years.
The Russian leader stressed that in the first months of this year, the indicators were better than expected and that, in fact, the growth was 6% in January and February.
The Ministry of Economy also revised its growth forecast from 2.3% to 2.8%, while the Central Bank raised it from 1-2% to 2.5-3.5%.
Recently, the International Monetary Fund (IMF) raised its growth forecast for Russia by six-tenths of a percentage point to 3.2%, thanks to the positive evolution of its oil exports.
The IMF believes that the Russian economy has strengthened because oil export volumes have remained stable due to trade with countries not aligned with Western sanctions.
In early April, Russian Prime Minister Mikhail Mishustin said that GDP had grown by 3.6% in 2023, despite increased external pressures, referring to Western sanctions.
Read Also: Russian President wants war veterans as candidates in elections (Portuguese version)
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