MOSCOW, November 21. /TASS/. Russia’s GDP growth may exceed 3% this year, Finance Minister Anton Siluanov said.

"This year’s economic growth dynamics is expected at 3%, probably even higher," he told a forum.

Russia pursues responsible economic policy, the minister said. "We see that sanctions that started to be imposed in 2014, have resulted in our own food safety. <…> Our economic independency is a condition, and we will invest in it," he stressed.

Chief Economist of VEB.RF Andrey Klepach said earlier that Russia’s GDP growth might reach 3.2-3.3% by the end of this year, with households’ real earnings possibly rising by 5%.

Russia’s Economic Development Ministry upgraded its GDP growth outlook for January-September 2023 from 2.8% to 2.9%, saying that the economy is backed by mounting consumer activity triggered by flexibility of the domestic labor market and growth of real money income of households.