Russia's Economic Development Ministry expects investments to rise 3% pa in 2025-2027, consumer activity 3.7% - Reshetnikov

MOSCOW. April 23 (Interfax) - Russia's Economic Development Ministry forecasts growth of 2.3%-2.4% per annum in GDP in 2025-2027, Economic Development Minister Maxim Reshetnikov said at a government meeting, presenting the main parameters for the macroeconomic forecast for 2024-2027.

Investments are expected to grow 3% pa, consumer activity 3.7% pa, and real household income around 3% pa in 2025-2027, Reshetnikov said.

"We expect continued sustainable economic growth of 2.3%-2.4% pa in 2025-2027, and nominal GDP should exceed 237 trillion rubles by 2027," the minister said.

"We forecast investments to rise an average of 3% pa, consumer activity to grow 3.7% pa, and real household income to increase at an average rate of around 3%," Reshetnikov said.

"Risks also remain. In terms of external conditions, this is mainly a slowdown in the global economy overall, and in the economies of countries that are Russia's main trading partners, as well as the continuation of sanctions pressure," Reshetnikov said.

Internal risks "are associated mainly with sufficient domestic supply amid labor market restrictions," the minister said.

"Occurrence of these risks has been accounted in the conservative scenario," Reshetnikov said.

"The presented baseline version of the forecast is realistic, as it accounts for all of the implemented and planned measures by the government, including as part of the new national projects indicated by the president," the minister said.