Russia's GDP expected to grow 3.9% in 2024 - Finance Minister Siluanov

MOSCOW. Aug 30 (Interfax) - Russia's economy should exceed last year's figure and grow 3.9% in 2024, Finance Minister Anton Siluanov said.

"The estimates for the dynamics of the economy for this year are also higher than we initially included in our forecasts. The estimate for economic growth for the current year is 3.9%. Last year, the figure was 3.6%, it was high, and this year we will exceed it," Siluanov said during an interview with Rossiya 24 TV.

The Economic Development Ministry expects GDP dynamics in line with the April version of the macro forecast, which is planned to be revised in early September, and has assumed growth of 2.8% in 2024.

The Economic Development Ministry assesses that Russia's GDP grew 3.4% year-on-year in July 2024 after increasing 3.0% in June, 4.5% in May, 4.5% in April, 4.2% in March, 7.6% in February, and 4.8% in January. The ministry has estimated economic growth of 4.4% in January-July 2024.

Siluanov noted that expectations for the resource filling of budget obligations are "very positive" in connection with the forecast for economic growth.