Siluanov predicted GDP growth at rates above 2% within three years

Over the next three years, the Russian economy will grow at a rate above 2% per year. This was stated by Russian Finance Minister Anton Siluanov at parliamentary hearings in the Federation Council. The broadcast was conducted on the page of the upper chamber on VKontakte.

“The growth of the global economy is also planned, stable demand for traditional Russian export goods at fairly high prices, the stable dynamics of the Russian economy is maintained – economic growth rates are more than 2%, 2.2-2.3% annually for three years,” he said .

Siluanov noted that budget policy is being implemented based on “fairly favorable” macroeconomic conditions. At the same time, we need to be prepared for different scenarios, he added. The minister pointed to “economic and financial fragmentation, structural imbalance” and sanctions that Western countries continue to impose on the Russian Federation.

On September 22, during a government meeting, Minister of Economic Development Maxim Reshetnikov statedthat Russia’s GDP growth in 2023 will be 2.8%, in 2024 – 2.3%. Going forward, the growth forecast is just over 2% per year. At the end of August Siluanov admitted growth of the Russian economy at the end of the current year by 2.5% or more.