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Russia's GDP growth may reach 2.7% in 2018 — former finance minister

Russia's strategic development program for 2018-2024 had the average economic growth at 3-3.5% from 2018 to 2024, the former minister said

MOSCOW, May 2. /TASS/. Growth of the Russian economy in 2018 may reach 2.7%, it will begin to accumulate in 2018, which will increase the incomes of the population by 25% by 2024, Head of the Center for Strategic Research (CSR) and former Finance Minister Alexei Kudrin said in an interview with TASS.

"Growth will start accumulating from 2018. Next year, according to our forecast growth will reach around 2.7%. With this GDP growth by 2024 it will grow by 29%, while real disposable incomes of the population will grow by 25%, and labor productivity will increase by 30% %, non-raw export - almost twice. These are ambitious tasks," Kudrin said.

He added that Russia's strategic development program for 2018-2024, which is currently being prepared by the CSR, had the average economic growth at 3-3.5% from 2018 to 2024.

On April 13, the Russian Government reviewed three scenarios of the socio-economic development of Russia for 2018-2020 - conservative, basic, target - and adopted the so-called base scenario as a base. According to the scenario GDP growth in 2017 will reach 2%, and then for 3 years will stabilize by 1.5%. At the same time, the Russian authorities promised to work on developing measures to achieve the target scenario, which optimistically predicts acceleration of economic growth to a rate higher than the world average - 3.1% in 2020.