Russia Lifts 2024 Growth Forecast as Economy Rides Sanctions
- Economy Ministry says GDP will grow 2.8% in 2024, up from 2.3%
- Ministry sees risks from secondary sanctions, global slowdown
The GDP forecast follows a 3.6% rise last year that also exceeded the ministry’s expectation of a 2.8% expansion.
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Russia’s Economy Ministry raised its 2024 growth forecast despite mounting sanctions over President Vladimir Putin’s war in Ukraine.
Gross domestic product will expand by 2.8% this year, Economy Minister Maxim Reshetnikov told a government meeting on Tuesday. That compares with the ministry’s forecast of a 2.3% GDP increase for 2024 during budget preparations in the fall.