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

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

An exterior view of a skyscraper in Moscow, Russia. (Source: AFP)

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

Prime Minister Mishutin emphasized 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 inflation, Mr. Mishutin stated that the index stood at 3.4% as of early July and is projected not to exceed 5% annually.

Mishutin asserted: "Unless there are unforeseen circumstances, the country's GDP growth for the whole of 2023 could be higher than 2%."

For his part, President Putin stated that the country's economy is performing better than expected.

Analysts participating in a Reuters survey conducted at the end of June 2023 predicted that Russia's GDP growth would reach 1.2% and inflation at 5.7% in 2023.

Source: https://baoquocte.vn/tang-truong-kinh-te-nga-co-the-cao-hon-2-neu-khong-co-tinh-huong-bat-ngo-233461.html