All news

Russian economy reaching sustainable growth trajectory one of key tasks — official

The Economic Development Ministry’s outlook on Russia’s GDP growth rates for coming years is adequate, Andrey Belousov added

MOSCOW, February 27. /TASS/. Making sure that Russia’s economy reaches the trajectory of sustainable growth is one of the key tasks, First Deputy Prime Minister Andrey Belousov said, adding that the country has not reached it yet.

"We have coped with the sanctions shock <…> though it absolutely does not indicate that we have reached the trajectory of sustainable economic growth. Reaching sustainable economic growth is the key task that we faced before the COVID-19 (pandemic), after the COVID-19 (pandemic), before sanctions, during sanctions," he said at the RUSSIA EXPO.

The Economic Development Ministry’s outlook on Russia’s GDP growth rates for coming years is adequate, the official added.

"If we take the Economic Development Ministry’s forecast for the next six years, which I consider quite adequate, we can see that six years are divided into two stages. The first stage consisting of three years is the stage of structural transformation with growth rates of around 2% per year or slightly higher. Further on we get to a growing trajectory reaching around 3%, outpacing global economic growth rates though if it stands at 2.5%," he explained.