Russia’s Statistics Service Confirms Country’s 5.5% GDP Growth Estimate in Q3

16:59 GMT, 13 December 2023

MOSCOW (Sputnik) - Russia’s Federal State Statistics Service (Rosstat) on Wednesday confirmed the country’s 5.5% GDP growth estimate in the third quarter of the year.

Sputnik

For the January-September period, the service improved its estimate on the annual GDP growth and now expects it to reach 3% instead of 2.9%.

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Earlier in December, Russian Minister of Economic Development Maxim Reshetnikov said that the Russian Ministry of Economic Development estimates the GDP growth at 3.5% in 2023, but will not formally revise its forecast.

"The 3.5% growth this year is our current estimate. Of course, we will not formally revise the forecast, we constantly make working estimates. And the forecast will be prepared according to the plan in the spring," Reshetnikov told reporters.

Russian President Vladimir Putin in turn said that the country's GDP will grow by at least 3.5% by the end of this year. The ministry officially forecasts the GDP to grow this year by 2.8%.