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Russia's economic growth rate outpaces world average — Putin

The president recalled that in 2023, 45.5% of Russia’s GDP growth was ensured by basic industries - manufacturing, construction

ST. PETERSBURG, June 7. /TASS/. The growth rate of the Russian economy exceeds the world average, Russian President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"About the second significant structural change. This is the achievement of a new quality and content of economic growth in Russia, a change in the sectoral structure due to an active economic policy. At the end of last year, as you know, Russia's GDP growth was 3.6%, and for the first quarter of this year - already 5.4%. This means that our rates exceed the global average. It is particularly important that such dynamics is primarily determined by non-resource industries," he said.

The president recalled that in 2023, 45.5% of Russia’s GDP growth was ensured by basic industries - manufacturing, construction, logistics, communications, agriculture, electricity, housing and communal services, and 61.6% by supporting industries - trade, hotels, restaurants, financial and other services.

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