Rosstat gave the first estimate of GDP growth in 2023. According to the statistics service, the growth was 3.6%, and these data practically coincided with the estimates of the Ministry of Economic Development.
Thus, it is noted that Russia’s GDP for 2023, according to the first estimate, amounted to 171.041 trillion rubles at current prices. The GDP physical volume index relative to 2022 was 103.6%, excerpts from the document are provided by RIA Novosti.
It is clarified that the increase in GDP was influenced by the growth of indices of the physical volume of added value in such industries as manufacturing, construction, wholesale and retail trade, transportation and storage, hotels and restaurants. There are advantages in all industries.
The share of gross accumulation in the structure of GDP use increased to 27% (versus 22.5% a year earlier). Expenditures on final consumption also increased – to 68.7% versus 64.9% in 2022, as noted in the document, Kommersant reports.
Previously, the Ministry of Economic Development expected Russian GDP growth in 2023 to be 3.5%, although the ministry’s official forecast for September 2023 was 2.8%. According to Minister of Economic Development Maxim Reshetnikov, economic growth is based on consumer and investment demand.
Let us add that in 2022 the Russian economy decreased by 1.2%, in 2021 it grew by 5.9%, and in 2020 it fell by 2.7%.
The Ministry of Economic Development predicts that in 2024 Russia’s GDP will grow by 2.3%. At the same time, the International Monetary Fund’s estimate is different – according to its data, this year the Russian economy will grow by 2.6%, the World Bank – by 1.3%.
Source: Rosbalt
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