Russia’s GDP growth slows to 3.1% y/y in Q3, statistics service says
12:05 pm Wednesday, November 13th, 2024
(Reuters) – Russia’s gross domestic product (GDP) grew by 3.1% in the third quarter of 2024, down from a 4.1% annual rise in the second quarter and 5.4% in the first quarter, state statistics service Rosstat said on Wednesday.
The economy ministry previously estimated that the economy would grow 2.9% in the third quarter. The central bank had predicted 3.2% growth.
The Russian government forecasts GDP growth for 2024 as a whole at 3.9%, surpassing the 3.6% growth achieved in 2023, thanks to substantial budget injections and greater military-industrial production as Moscow continues its war in Ukraine.
(Reporting by Darya Korsunskaya; Editing by Peter Graff)
