Putin announced Russian GDP growth in 2023 by 3.6% - Kommersant

Putin announced Russian GDP growth in 2023 by 3.6% - Kommersant

Russian President Vladimir Putin said during a meeting on economic issues that in 2023, Russia's GDP grew by 3.6%. According to him, the average global GDP growth rate last year was 3%, and among developed countries - 1.5%.

During the meeting, the president also stated that the volume of industrial production in Russia in 2023 grew by 3.5%, and manufacturing industries added 7.5%. Vladimir Putin claims that the production of computers and peripheral devices grew last year in the Russian Federation by 32.8%, the production of vehicles - by 25.5%, furniture - by 20.7%, leather and leather goods - by 12.3% , motor vehicles, trailers and semi-trailers - by 13.6%.

February 7 Rosstat appreciated Russian GDP growth in 2023 is 3.6%. The figure turned out to be higher than the estimate of the Ministry of Economic Development, which predicted growth at 3.5%. One of the key reasons for the unexpectedly high GDP growth is the maximum accumulation of inventories since 1995, without which the indicator would have been noticeably closer to the long-term equilibrium trend.

Read more in the Kommersant article. “GDP was taken out of reserves”.

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