Russian President Vladimir Putin presented detailed and recent economic and financial data during a televised economic meeting on Monday.
Photo: Kremlin pool/Gavriil Grigorov
Last week, the Russian Statistical Office already indicated that, according to its preliminary data, the Russian GDP will grow by 3.6 percent in 2023 on average after a 1.2 percent decline in 2022, and Vladimir Putin highlighted today that the Ministry of Economy previously his estimate was 3.5 percent, and the latest data is better than that, and means that the Russian economy grew faster than the average GDP of the world, which was 3 percent, and that of developed countries, which was 1.5 percent. In addition, Russian GDP growth exceeded the individual growth data of the G7 countries.
– wrote the Money Center.
According to the analysis of the Russian Institute of Macroeconomics and Short-Term Forecasting, all of this could be related to the fact that industrial production may have jumped by up to 60-65 percent in the last two years due to war spending, although according to Reuters’ analysis, the average Russian citizen perceives very little of this.