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Putin expects Russia's GDP to grow 1.5-2% by end of year

This will allow Russia to maintain its place among the leading economies of the world, the President pointed out

ST. PETERSBURG, June 16. /TASS/. Russia's GDP will grow by the end of the year, meaning the country will remain one of the world’s leading economies, Russian President Vladimir Putin said at a plenary meeting of the St. Petersburg International Economic Forum (SPIEF).

"Positive macroeconomic trends are gaining momentum and strength. In April this year, GDP grew by 3.3% in annual terms, and by the end of the year, it will add more than a percent," the head of state said.

"But, in my opinion, and I agree with those of our experts who believe that growth will still be more, up to 1.5%, and maybe even under 2%. This will allow our country to maintain its place among the leading economies of the world," Putin said.

He added that in April, there was growth in the manufacturing and retail sectors.

"Moreover, manufacturing output in January-April exceeded last year's figures by 2.9%," the President said.

Putin recalled that it was this area of the economy that "has been hit hardest due to the rupture of cooperative ties and supply chains."

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Vladimir Putin SPIEF-2023

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