Russian Economy Ministry expects power consumption growth by 3.9% in 2024

Business & Economy September 30, 22:02

The indicator is expected to grow by 1.6% in each of 2025 and 2026 and by 1.7% in 2027

MOSCOW, September 30. /TASS/. Electric power consumption in Russia is expected to edge up by 3.9% in this year owing to industrial production growth, the Ministry of Economic Development said in the forecast of socioeconomic development in 2025 and for the planned period of 2026-2027.

The indicator is expected to grow by 1.6% in each of 2025 and 2026 and by 1.7% in 2027.

Seaborne transportation of goods will grow in 2024 by 3.4% annually and stand at 34.4 mln metric tons. The cargo turnover is estimated to add 2.4% year on year and reach 70.8 bln ton-km. Passenger carriage by marine transport is forecast to be about 2.75 mln people in 2024. The planned incremental growth of seaports production capacity will be 192.3 mln metric tons in 2025-2027, including 74.3 mln metric tons in 2025.

The output of the processing sector in the base case will grow by 7% in 2024, 2.9% in 2025, 3.1% and 3.3% in 2026-2027 respectively.

The retail trade turnover is forecast to have positive dynamics and is expected to grow in 2025-2027 within the range of 4.1-7.6%.

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