Russia's GDP to grow 3.9%-4.0% in 2024 - Putin

MOSCOW. Dec 4 (Interfax) - Russia's GDP is expected to grow 3.9%-4.0% in 2024, President Vladimir Putin said at the VTB Russia Calling! forum.

"Russia's economy grew 3.6% last year, and it should be around 4%, 3.9% this year, perhaps even 4%," Putin said.

As reported, the Economic Development Ministry has estimated that Russia's GDP rose 4.1% in January-October 2024.

Economic Development Minister Maxim Reshetnikov in October said that the ministry retains the forecast for GDP to grow 3.9% in 2024 and 2.5% in 2025 despite several signs that the economy is cooling.

Having hiked the key rate from 19% per annum to 21% pa, the Central Bank of Russia in October confirmed the forecast for Russia's GDP to grow within 3.5%-4.0% in 2024 and only 0.5%-1.5% in 2025.

The consensus forecast of analysts polled by Interfax in early December projects Russia's GDP to grow 3.8% in 2024 and 1.5% in 2025.