Official forecasting for Russian GDP growth has been reduced by 1.7 times, and compared to last year (+4.1%), the economy can slow down almost three times.
Russian economic growth in 2025 could slow 1.5%. It was stated at a meeting with Russian leader Vladimir Putin the leader of the Ministry of Russian Federation Anton Siluanov, the Kremlin Press Service said Wednesday, August 27.
According to him, this is the analysis of the Ministry of Economic Development, in the numbers where the budget is based.
According to the department’s initial estimate, the Russian GDP should add 2.5% this year. Thus, the official forecasts were reduced by 1.7 times, and compared to last year’s growth (4.1%), the economy could slow down almost three times.
At the same time, the non -resource industry growth, which last year reached 8.5%, according to “previous months” reached 4.2%, and by the end of the year only 3%were expected, Deputy Prime Minister Denis Manturov said.
The total growth of industrial production will be 2%, he said. This was more than twice as low as the indicators of 2023-24, when Rosstat recorded the increase in production in factories and plants by 4.3% and 4.6%, respectively.
As Siluanov explained, the “rather strict financial policy conditions” of the central bank of the Russian Federation affect rather strict financial policy conditions. And Manturov added that it is necessary to continue to reduce the basic rate – this will “accelerate the growth itself and will provide a restoration trend for the processing of industries.”
Remember, according to Rosstat, in January-June the economy of the Russian Federation added only 1.2%, and in the second quarter-1.1%. The industrial growth rate has dropped more than double – from 4.6% of the last year to 2% to the end of June, and the real salary increased 2.5 times – 3.8% more than 9.7% by 2024.
According to the IMF’s forecast, by the end of the year the Russian economy will grow 0.9% – three times slower than the world, and five times slower than Chinese. |
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Source: korrespondent
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