Russian manufacturing could grow 6.8% in 2024 after 8.6% in 2023 - First Deputy PM Manturov

VLADIVOSTOK. Sept 3 (Interfax) - The forecast exceeds the outlook of 5% that First Deputy Prime Minister Denis Manturov had projected last spring, when he was also industry and trade minister.

Russia's current Industry and Trade Minister Anton Alikhanov had also cited the figure of 4% in July this year.

"We have previously said that growth in manufacturing could exceed 5% this year. The Economic Development Ministry currently expects growth of about 6.8% in manufacturing, based on the up-to-date dynamics and latest forecasts," Manturov said on Tuesday.

Manufacturing reportedly accelerated to 6.6% year-on-year in July 2024 after rising 5.7% in June 2024. Manufacturing overall grew 8.6% year-on-year in January-July 2024.

The Federal State Statistics Service (Rosstat) in August revised data on manufacturing output in 2023, which, according to the latest data, grew 8.6% in the year instead of 7.5%.