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Russian GDP to grow by 1.4% in 2027 — Novak

Inflation in Russia may total 6.8% as of the end of this year, the deputy prime minister noted

MOSCOW, October 2. /TASS/. Russian GDP is anticipated to grow by 1.4% next year and reach the growth rate of 2.4% in 2029, Deputy Prime Minister Alexander Novak said at the plenary session of the Federation Council, the upper house of the Russian legislative assembly.

"Concerning the forecast indicators, the gross domestic product is expected to grow by 1.4% in 2027 and subsequently reach 2.4% in 2029," Novak said.

Inflation in Russia may total 6.8% as of the end of this year, the deputy prime minister noted.

"Concerning inflation, it totaled 4.93% year-to-date. In annual terms, growth is 6.26% as of the end of September, we forecast 6.8% by the end of the year," Novak said.

The unemployment in Russia is at a historically low level and stands at 2.2%, the official stressed.

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