Russia’s GDP growth assessment for 9 months rises 2.8% to 2.9%
Earlier, Mikhail Mishustin drew attention to the fact that domestic production and the creation of a supply economy contribute to the overall dynamics of GDP growth.
The Ministry of Economic Development improved the assessment of Russian economic growth in January - September 2023 from 2.8% to 2.9%, the press service of the ministry reported, citing Deputy Minister of Economic Development Polina Kryuchkova.
"In general, over the 9 months of 2023, GDP grew by 2.9%," Kryuchkova said.
At the end of October, Russian Prime Minister Mikhail Mishustin said at a meeting on economic issues that Russia's GDP grew by 2.8% over the first 9 months of this year, citing data from the Ministry of Economic Development.
He also drew attention to the fact that domestic production and the creation of a supply economy contribute to the overall dynamics of GDP growth. According to the Prime Minister, the country's output of industrial goods increased by more than 3% from January to September. Mishustin emphasized that the driving force in this area is the manufacturing industry, its growth over nine months exceeded 7%. He also noted the growth in indicators in the fields of computer equipment, electronics, optical products, electrical equipment, furniture, and other sectors.
Kryuchkova also noted that the Russian economy has passed its recovery stage and is now actively booming. "The Russian economy is expanding rapidly. Industries targeted at growing the supply-side economy remain the main economic drivers: manufacturing, construction, and agriculture. The economy is supported by increased consumer activity, which is ensured by the flexibility of the domestic labor market and the increase in population real cash incomes. Now that the recovery stage is ended, the objective is to maintain positive trends and assure future fundamental economic change," she said.
According to preliminary Rosstat estimates, GDP growth in the Q3 of 2023 will be 5.5% in annual terms, up from 4.9% in the previous quarter.
Source
The Ministry of Economic Development improved the assessment of Russian economic growth in January - September 2023 from 2.8% to 2.9%, the press service of the ministry reported, citing Deputy Minister of Economic Development Polina Kryuchkova.
"In general, over the 9 months of 2023, GDP grew by 2.9%," Kryuchkova said.
At the end of October, Russian Prime Minister Mikhail Mishustin said at a meeting on economic issues that Russia's GDP grew by 2.8% over the first 9 months of this year, citing data from the Ministry of Economic Development.
He also drew attention to the fact that domestic production and the creation of a supply economy contribute to the overall dynamics of GDP growth. According to the Prime Minister, the country's output of industrial goods increased by more than 3% from January to September. Mishustin emphasized that the driving force in this area is the manufacturing industry, its growth over nine months exceeded 7%. He also noted the growth in indicators in the fields of computer equipment, electronics, optical products, electrical equipment, furniture, and other sectors.
Kryuchkova also noted that the Russian economy has passed its recovery stage and is now actively booming. "The Russian economy is expanding rapidly. Industries targeted at growing the supply-side economy remain the main economic drivers: manufacturing, construction, and agriculture. The economy is supported by increased consumer activity, which is ensured by the flexibility of the domestic labor market and the increase in population real cash incomes. Now that the recovery stage is ended, the objective is to maintain positive trends and assure future fundamental economic change," she said.
According to preliminary Rosstat estimates, GDP growth in the Q3 of 2023 will be 5.5% in annual terms, up from 4.9% in the previous quarter.
Source