19 Apr 2024 20:10

Russian MinFin expects 2024 GDP growth to be level with 3.6% seen in 2023 - Siluanov

MOSCOW. April 19 (Interfax) - Russian GDP growth this year could be level with the 3.6% seen in 2023, Finance Minister Anton Siluanov said at the plenary session of the International Monetary and Financial Committee which takes place during the World Bank and International Monetary Fund Spring Meetings in Washington.

"Russia takes care with its fiscal balance. Public debt remains consistently low at about 15% of GDP, the budget deficit is about 1% of GDP, growth rates are expected at the level of 2023 - 3.6%," the Finance Ministry quoted him as saying in a press release following the meeting.

The Russian Economic Development Ministry is forecasting 2.3% GDP growth in 2024 and the Central Bank of Russia 1.0%-2.0%.First Deputy Prime Minister Andrei Belousov said recently that the Econ Ministry's forecast could be raised a few tenths of a percentage point. The ministry is due to unveil its updated three-year macro-economic forecast in April and the Central Bank of Russia its updated medium-term forecast after its April 26 board meeting.

The IMF on April 16 raised its outlook for Russian GDP growth in 2024 to 3.2% from the 2.6% it was predicting in January.

The planned Russian budget deficit this year is 0.9% of GDP.