The President of Russia estimated the country’s economic growth in 2023 at 3%

The Russian economy by the end of 2023 will be close to 3% growth, Russian President Vladimir Putin said at a limited meeting of the CIS heads of state.

“This year there will be close to 3% GDP growth,” the president said. He noted that in Russia the “basic, fundamental conditions” for the development of relations with the CIS countries are being strengthened.

“I mean first of all the state of the Russian economy today <...> We would, of course, like even more, but overall our situation is quite stable,” he clarified.

July 25 Putin statedthat the growth rate of the Russian economy this year has accelerated from month to month and in 2023 the growth will completely cover last year’s decline. He said that by the end of the year, GDP would increase by more than 2%. Then the Central Bank predicted the country’s GDP growth rate in 2023 is 1.5-2.5%.

At the end of August Rosstat published report “The Socio-Economic Situation of Russia”, in which the country’s GDP was noted to grow by 1.6% in the first half of 2023. The Ministry of Economic Development in its review “On the current situation” estimated GDP growth for January – July at 2.1% – previously The department estimated growth at 1.4%.