KAZAN, October 24. /TASS/. Russia’s GDP growth may total around 4% this year, President Vladimir Putin told a press conference following the BRICS summit.

"[Russia’s] economy grew by 3.4-3.6% last year. This year [growth] will total around 4%, probably 3.9%," he said.

Earlier, the International Monetary Fund (IMF) improved its forecast for Russia's GDP growth in 2024 to 3.6% from 3.2%.

The Russian Ministry of Economic Development has raised its forecast for the country's GDP growth this year to 3.9% from 2.8%.

The 16th BRICS Summit, which is the key event of Russia’s chairmanship in the association, is being held in Kazan on October 22-24. On the second day of the summit its participants passed the Kazan declaration. Among the main themes of the document are development of the association, the position on global problems, settlement of regional crises, including in Ukraine and the Middle East.

The BRICS group was founded in 2006 by Brazil, Russia, India, and China, with South Africa joining it in 2011. On January 1, 2024, Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates, became its full-fledged members. The Kazan summit is the first attended by the new members of the integration.