Russian GDP Growth Forecast for 2024: ACRA and Ministry of Economic Development

2023-11-28 03:57:00

Analysts predict a slowdown in GDP growth in Russia Photo: Alexander Kulakovsky © URA.RU

In Russia, GDP, after growing by 3-3.2% in 2023, will slow down next year. GDP growth in 2024 will be only 0.5-1.3%. This forecast was made by the ACRA rating agency.

“By the end of 2024, the Russian economy will experience a significant slowdown in growth rates. Real GDP will increase by 0.5-1.3%,” reports the RBC agency forecast. At the same time, by the end of 2023, GDP will grow by 3-3.2%.

The authors of the macroeconomic forecast believe that in 2025 economic growth could range from 1% to 2%, and in 2026 – 0.6-1.8%. In addition, it is expected that investment in fixed assets will grow by 4.6-6.1% in 2023, and will slow down to 2.5%-3.7% in the next year.

Earlier, the Ministry of Economic Development of the Russian Federation made its own forecast for GDP growth in 2024. According to the department, economic growth will reach 2.8% at the end of this year, but next year it will drop to 2.3%. The ministry also predicted a reduction in inflation to 4.5%.

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In Russia, GDP, after growing by 3-3.2% in 2023, will slow down next year. GDP growth in 2024 will be only 0.5-1.3%. This forecast was made by the ACRA rating agency. “By the end of 2024, the Russian economy will experience a significant slowdown in growth rates. Real GDP will increase by 0.5-1.3%,” reports the RBC agency forecast. At the same time, by the end of 2023, GDP will grow by 3-3.2%. The authors of the macroeconomic forecast believe that in 2025 economic growth could range from 1% to 2%, and in 2026 – 0.6-1.8%. In addition, it is expected that investment in fixed assets will grow by 4.6-6.1% in 2023, and will slow down to 2.5%-3.7% in the next year. Earlier, the Ministry of Economic Development of the Russian Federation made its own forecast for GDP growth in 2024. According to the department, economic growth will reach 2.8% at the end of this year, but next year it will drop to 2.3%. The ministry also predicted a reduction in inflation to 4.5%.

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