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World Bank Raises Russia's GDP Growth Forecast
The World Bank has raised its forecast for Russia's GDP growth rate in 2024 to 3.2%.
The World Bank has raised its forecast for Russia's GDP growth for this year and the next two years. This is stated in the organization's economic forecast for developing countries in Europe and Central Asia, Interfax reports.
In its June World Economic Outlook report, the World Bank predicted that Russia's GDP would grow by 2.9% and 1.4%, respectively.
The forecast for Russian economic growth in 2026 remained unchanged at 1.1%.
Russian GDP has been growing for several years now. Accordingly, by the end of 2023, the national economy grew by 3.6%. At the same time, Russian Prime Minister Mikhail Mishustin previously emphasized that the positive dynamics will continue in 2024. According to the updated forecast of the Ministry of Energy, by the end of 2024, Russia's GDP will grow by 2.8%.