Putin announced the growth of economic indicators above forecasts

The economic indicators of Russia turned out to be better than forecasts, which gives hope for the solution of all the tasks set during the year. About it declared Russian President Vladimir Putin meeting with Prime Minister Mikhail Mishustin. The transcript of their conversation was published by the Kremlin press service.

“Our results, at least for the time being, let’s say, cautiously, are better than previously expected, better than predicted. This gives us hope that all the tasks, at least as we set them, will at least be resolved within a year,” he said.

Putin and Mishustin met on the night of July 4-5. The Prime Minister presented data on the growth of indicators that indicate the recovery of the Russian economy. In particular, Mishustin drew attention to the fact that GDP growth in May amounted to 5.4% compared to May 2022, since the beginning of the year – 0.6%. According to Mishustin, by the end of the year, GDP growth could be above 2%. “Now we have confidence, in the event, of course, if there are no force majeure circumstances, that we should grow more than 2% per year,” he said.

As for inflation, at the beginning of July it was 3.4%, by the end of the year it could reach 5%, Mishustin recalled. According to him, the growth of real wages in April amounted to 10.4% in annual terms, in four months from the beginning of 2023 – 4.2%. The unemployment rate is at a historic low of 3.1-3.2%, the prime minister added.

Mishustin also drew attention to the growth in the turnover of retail trade, catering and paid services, which accelerated to 8.8% yoy. At the end of the report, Mishustin expressed confidence that all social guarantees and obligations would be fulfilled.

On July 3, during a meeting with graduates of the Higher School of Public Administration, RANEPA, Putin drew attention to the change in the structure of the Russian economy, which is indicated by the growth in income from processing industries.