Siluanov: Russia's GDP to exseed IMF forecast in 2024

Maria Novoselova / Vestnik Kavkaza

Russia's GDP in 2024 is expected to grow at the same rate as in 2023, when it expanded by 3.6%, Russia's Finance Minister Anton Siluanov said.

"Russia is careful with the budget balance. Public debt remains at a sustainably low level of about 15% of GDP, the budget deficit is about 1% of GDP, and the growth rate is expected to be at the same level as in 2023, 3.6%," Siluanov said.

The Russian Economic Development Ministry is forecasting 2.3% GDP growth in 2024 and the Central Bank of Russia 1.0%-2.0%.

Russia's First Deputy Prime Minister Andrei Belousov said recently that the Economy Ministry's forecast could be raised a few tenths of a percentage point. The ministry is due to unveil its updated three-year macro-economic forecast in April and the Central Bank of Russia its updated medium-term forecast after its April 26 board meeting.

Earlier, the IMF raised its outlook for Russian GDP growth in 2024 to 3.2% from the 2.6% it was predicting in January.

© Photo :Maria Novoselova / Vestnik Kavkaza