Russia's economy showing signs of cooling, forecast remains for growth of 3.9% in 2024 - Economic Development Minister

MOSCOW. Oct 24 (Interfax) - Russia's economy started showing signs of cooling slightly at the end of the third and start of the fourth quarter, though the forecast remains for the country's GDP to grow 3.9% in 2024, Economic Development Minister Maxim Reshetnikov said during a lecture at the All-Russia Academy of Foreign Trade.

"Our estimate is 3.9% this year [for growth in Russia's GDP]. Despite indeed seeing a cooling of the economy at the end of the third and start of the fourth quarter, it is rather natural that it is reacting to the decisions reached [to tighten monetary policy] according to several signs, and we confirm the estimate [of 3.9% growth]," Reshetnikov said.