The Ministry of Economic Development has improved its estimate of GDP growth in 2023 to 3.5% | December 30, 2023

MOSCOW, December 30. /TASS/. Ministry of Economic Development improved its estimate for Russia’s GDP growth in 2023 to 3.5%. This was announced by the head of the department, Maxim Reshetnikov, commenting on the updated data published on Friday. Rosstat by GDP for 2021−2022.

“Rosstat has clarified GDP estimates for 2021 and 2022. In both cases, the figures were significantly revised upward – to plus 5.9% and minus 1.2%, respectively. The improvement in ratings is evidence of the resilience of the economy and its successful adaptation to sanctions and the post-Covid situation. This confirms our ability to effectively adapt to any shock. Decisions to ensure the sustainability of the economy during the pandemic, implemented by the government team led by Mikhail Mishustin, laid the foundation for its flexibility and further development, including growth this year,” the department’s press service quotes the minister.

“As a result, GDP in 2023, according to the Ministry of Economic Development based on statistics for 11 months, will be 3.5%, which is higher than our forecast,” Reshetnikov added.

It was previously reported that, according to the updated forecast of socio-economic development of the Russian Federation, published in September 2023, Russian GDP growth in 2023 is expected to be 2.8%, in 2024-2025 – 2.3%, by 2026 – 2 .2%.

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