Russian manufacturing could grow at least 5% if current trends persist in 2024 - Manturov

MOSCOW. April 3 (Interfax) - The Russian Industry and Trade Ministry expects manufacturing output could grow at least 5% if current trends persist in 2024, Denis Manturov, deputy prime minister and Russia's industry and trade minister, told reporters.

"Everything will depend on many factors, including monetary policy, but given the results we see in the first two months, I think that by the end of the year this should be at least 5% in the manufacturing industry," he said following the government's report to the State Duma on Wednesday.

The Russian Federal State Statistics Service (Rosstat) has said manufacturing sector output grew 7.5% year-on-year in January, accelerating to 13.5% in February.

Manufacturing grew 7.5% in 2023.