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Russia’s GDP growth to be at 3.5% in 2023 — finance minister

About four trillion rubles from the National Welfare Fund will be allocated for investment into infrastructural and technological projects, he said

MOSCOW, December 14. /TASS/. The Russian finance ministry projects the country’s GDP to grow by 3.5% this year and expects "positive trends" in 2024, Finance Minister Anton Siluanov said in an interview with the Izvestia daily on Thursday.

"Last year was the year of serious decisions and choice of priorities. And it will be fair to say that we have chosen the right path. We supported the people and the main sectors of our economy, the ones that create jobs and ensure Russia’s technological independence. This worked: the GDP will grow by 3.5% this year. Positive trends [are expected] in the next year as well," Siluanov said.

About four trillion rubles from the National Welfare Fund will be allocated for investment into infrastructural and technological projects, he said.

"Economic growth is key to the well-being of the people. Despite all limitations, support of the economy is one of the budget’s most important parts," he added.

Siluanov said in late November that Russia’s GDP may grow by more than 3% in 2023. In his words, Russia is carrying out a responsible economic policy.

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