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Russian GDP may grow above forecast in 2024 — First Deputy PM

There is a need to wait for results of the first quarter, Andrey Belousov noted

MOSCOW, April 10. /TASS/. The Russian GDP may grow slightly above the current forecast in 2024, First Deputy Prime Minister Andrey Belousov told reporters on the sidelines of the Open Innovations forum.

"The forecast is 2.2% now. The Economic Development Ministry says it may probably revise the forecast upward. However, tenths hundredths [of a percent to increase the GDP growth outlook - TASS] are now meant. March had good performance overall, it is seen from VAT pace that is breaking records, and mainly on account of internal GDP," Belousov said.

There is a need to wait for results of the first quarter, he noted.

"Nevertheless, PMIs are fairly high so far, I would say record high, and the value-added tax [is big]. These indicators and the rather high consumer [activity] show that everything is going pretty well," Belousov added.

According to the official macroeconomic forecast of the Russian Ministry of Economic Development released in 2023, the national GDP is expected to grow within 2.3% in 2024-2025 and by 2.2% in 2026.

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