SOLNECHNOGORSK (Moscow region), June 28 Russia's GDP growth in the first half of the year will be about five percent, Vladimir Putin said at a meeting with graduates of the RANEPA personnel management reserve program.
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“The result that we are now demonstrating is 3.6% growth last year; in the first half of this year it will be over five. Well, the first quarter was 5.4, in my opinion, we’ll see what happens in the next six months. But the country’s GDP growth will also be somewhere around five percent,” he noted.
In May, Rosstat reported that the country's gross domestic product growth in the first quarter accelerated to 5.4 percent in annual terms from 4.9 percent in the fourth quarter of 2023. The department's preliminary data completely coincided with the previously announced assessment of the Ministry of Economic Development. This year, according to the ministry's forecasts, GDP will grow by 2.8 percent.
The Central Bank, in turn, expects this figure to be in the range of 2.5-3.5 percent (the previous estimate was one to two percent).
GDP (gross domestic product) is the total monetary value of all final goods and services produced and sold by a country over a specific period of time.
At the end of May, the World Bank updated data on purchasing power parity indicators: it follows that in 2021 Russia became the fourth largest economy in the world with shares of 3.8 percent of global GDP, displacing Japan (3.7 percent) and Germany (3.4 percent). In 2022-2023, the situation remained the same, calculated .