Russia’s economy grew by 4.6% in January – Kommersant

Russian President Vladimir Putin said that the country’s GDP grew by 4.6% in January. According to him, by 2030 Russia can enter the top four largest economies in the world, provided that sustainable GDP growth is maintained at least 2% per year with a gradual acceleration to 3%. The President also noted that in the first week of March inflation turned out to be null.

“If last year we had 3.6% – in general, a very satisfactory, good figure, for January – 4.6%. It is also clear that this is only the beginning of the year. If I’m wrong about something, my colleagues will correct me, but the trends that we are now seeing give reason to believe that the plans proposed as part of the Address to the Federal Assembly are quite feasible,” Mr. Putin said at meeting with members of the government.

In this regard, the president instructed the government to “immediately” begin implementing the national projects announced during the address – “Family”, “Youth of Russia”, “Long and Active Life”, “Personnel” and “Data Economy”. By the end of April, Mr. Putin said, government members must determine the main approaches to preparing national projects.

According to the forecast of the Ministry of Economy, in 2024 GDP growth is expected to be 2.3%. From the Central Bank’s forecast from the beginning of February it follows that the regulator expects GDP growth to be 1.4%. According to the results of the first quarter, GDP growth, according to the Central Bank’s forecast, will be 4.3%.

For other GDP forecasts, see the Kommersant publication. “Academics lower GDP growth expectations.”