Growth in Russia's GDP could reach 3% in 2023 - Putin

MOSCOW. Nov 3 (Interfax) - The Russian economy should grow 2.8%-3% in 2023, Russian President Vladimir Putin said at a meeting with the new composition of the Public Chamber of the Russian Federation.

"Growth in GDP will be 2.8%-2.9%, or even 3%, this year," Putin said.

As reported, according to the Economic Development Ministry, Russia's GDP grew 2.8% in January-September 2023, with a rise of 5.2% in annual terms specifically in September.

The Economic Development Ministry in September raised its forecast for growth in the country's GDP to 2.8% in 2023 from the April outlook of 1.2%. The Central Bank of Russia (CBR) last week raised its forecast for growth in the country's GDP to 2.2%-2.7% in 2023 from its previous outlook of 1.5%-2.5%.

The Economic Development Ministry expects Russia's GDP to grow 2.3% in 2024, and the CBR projects GDP growth of only 0.5%-1.5%.