GDP growth accelerated to 7.7% in February – Kommersant
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GDP growth in Russia in February 2024 amounted to 7.7% year-on-year, after an increase of 4.6% in January. This is evidenced by data Ministry of Economy of the Russian Federation. The acceleration in annual GDP dynamics in February is partly explained by the leap year.
The ministry also reported that annual inflation in the Russian Federation in the period from March 26 to April 1 accelerated to 7.62%. In the food products segment, price growth slowed to 0.07%. In the reporting week, inflation for non-food products remained at the level of last week.
Russian Prime Minister Mikhail Mishustin during the government’s report to the State Duma statedthat Russia’s GDP growth is twice as high as that of developed countries. According to him, Russia is one of the five largest economies in the world in terms of purchasing power parity, and Mr. Mishustin sees the potential to get into the top 4.
About the reasons for the unexpected acceleration of the economy in 2023 – in the publication “Kommersant” “GDP was taken out of reserves”.
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