MOSCOW, September 27. /TASS/. Russia’s Economic Development Ministry projects a decrease of 1.5% in manufacturing for 2021, and annual growth of over 3% for 2021-2023, according to the country’s social and economic development outlook for 2021 and the planned period of 2022 and 2023 presented by the Economic Development Ministry.
"Manufacturing will decrease more moderately - by 1.5%. Meanwhile, the decrease in the sectors focused on investment demand and consumer durables production will be partially offset by expansion of essential products output (food, drugs, etc.). In 2021-2021 a gradual recovery of industrial production is expected," according to the outlook.
Growth of manufacturing is expected to reach 3.1% in 2021, 2% in 2022, and 3.3% in 2023.