Russia's GDP growth expected at 1.4% in 2027 with gradual acceleration to 2.4% in 2029 - Mishustin

MOSCOW. Sept 24 (Interfax) - Russia's GDP growth in 2027 is forecast at 1.4% with a smooth acceleration to 2.4% in 2029, Prime Minister Mikhail Mishustin said at a government meeting that is considering the macroeconomic forecast for 2026-2029.

"The base version of the socioeconomic development forecast has been taken as the basis for the budget. It assumes that domestic demand will be the main factor in GDP growth. Next year, GDP will grow 1.4%. Subsequently, the dynamics will steadily accelerate to 2.4% in 2029," he said.

The government has therefore kept its May forecasts for Russia's GDP growth in 2027 and 2029 (they also equaled 1.4% and 2.4%).

The Central Bank of Russia's interval forecast for Russia's GDP growth in both 2027 and 2029 is 1.5%-2.5%.