MOSCOW, November 15. The Ministry of Economic Development has improved the estimate of Russian GDP growth for 9 months of this year to 2.9% from the previous 2.8%, it says message from the ministry.
Earlier on Wednesday, Rosstat published a preliminary estimate of the dynamics of Russia's GDP in the third quarter – the economy accelerated growth to 5.5% in annual terms from 4.9% in the third quarter.
“Growth increased significantly relative to the level of two years ago. In general, over the 9 months of 2023, GDP grew by 2.9%,” the ministry said in a commentary to the Rosstat publication.
“The Russian economy continues to grow actively. The main drivers of the economy continue to industries aimed at developing the supply economy: the manufacturing sector, construction and agriculture. The economy is supported by the growth of consumer activity, which is ensured by the flexibility of the domestic labor market and the growth of real cash incomes of the population,” Deputy Minister of Economic Development Polina Kryuchkova also commented on the statistics.
According to her, after the recovery stage is completed , the task is to “consolidate positive trends and ensure further structural restructuring of the economy.”