Russia's economic growth could be higher than 2%, if there are no unexpected situations

Russia's economy is recovering steadily, with Gross Domestic Product (GDP) growth in the first five months of this year reaching 0.6%.

Tăng trưởng kinh tế Nga có thể cao hơn 2%, nếu không có tình huống bất ngờ

Exterior view of a high-rise building in Moscow, Russia. (Source: AFP)

The above statement was made by Russian Prime Minister Mikhail Mishustin during a meeting with President Vladimir Putin on July 5.

Prime Minister Mishutin stressed that the country's economy "remains stable and recovering despite sanctions." GDP growth in the first five months of this year reached 0.6%. In May alone, GDP increased by 5.4% compared to the same period in 2022.

Regarding the inflation situation, Mr. Mishutin said that this index as of early July was 3.4% and is forecasted not to exceed 5% annually.

Mishutin affirmed: "If there are no sudden, unexpected situations, the country's GDP growth for the whole of 2023 could be higher than 2%."

As for President Putin, the Russian leader said that the country's economy is performing better than expected.

Analysts participating in a survey conducted by Reuters news agency in late June 2023 forecast that Russia's GDP growth will reach 1.2% and inflation will be at 5.7% in 2023.

Source