MOSCOW, August 2. /TASS/. The growth of the Russian GDP in the first half of 2023 amounted to 1.4% in annual terms, according to the Ministry of Economic Development.

In June 2023, GDP grew by 5.3%, in the Q2 - 4.6%.

In June 2023, GDP growth was 5.3% year-on-year after rising by 5.4% in May. At the same time, excluding the seasonal factor, the growth reached only 0.04%.

In the Q2 of 2023, Russia's GDP grew by 4.6% year-on-year, while in the Q1 a decrease of 1.8% was recorded.

According to the updated forecast for the socio-economic development of Russia, Russia's GDP growth is expected to be at the level of 1.2% in 2023 and at 2% in 2024. Inflation in Russia this year is projected at 5.3%.