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Russia's GDP growth in 2026 expected at up to 1.3%, inflation at target level — Novak

Industrial production growth is expected at 2.3% this year, the deputy prime minister added

MOSCOW, February 3. /TASS/. Russia’s economic growth is expected at the level of 1-1.3% this year, while inflation will be at the target level of 4-4.5%, Deputy Prime Minister Alexander Novak said.

"As for 2026, we expect gross domestic product to grow by 1-1.3%, driven primarily by domestic drivers. Inflation will be at the target level of 4-4.5%," he said at a meeting of the Federation Council Economic Policy Committee.

Industrial production growth is expected at 2.3% this year, Novak added.

The reduction of the Central Bank’s key rate will contribute to the growth of investment activity in the country, while budget investments remain at the level of recent years, the official noted.