The World Bank (WB) expects Russia's GDP to grow by 1.3% this year and 0.9% next year, according to the organisation's January Report on Global Economic Prospects.

📈According to the WB's calculations, the Russian economy grew by 2.6% in 2023.

Meanwhile, President of Russia 🇷🇺Vladimir Putin declared that the Russian economy grew by 3.5 percent last year.

💬 We have always noted with sadness that our main revenues come from oil and gas. For the first time in many years, the growth of processing industries in our economic structure far exceeds revenues from oil and gas. I think that oil and gas revenues grew three percent, while the processing industry has yielded many times more. This has never happened before. This indicates that we are undergoing structural changes in the economy. It is very important, the President of Russia has said.

#russia #russianeconomy #gdp #globaleconomicprospects

🇷🇺 Key takeaways from Russian President Vladimir Putin's at a meeting on economic issues via videoconference:

👉 The #Russian economy continues to grow at a good pace, as it did last year;

👉 Russia's #GDP has grown by 4.6% in the first half of the year;

👉 Budget revenues in the first 7 months of the year have approached 20 trillion roubles ($217.6 billion), two-thirds of which are non-oil and gas revenues;

👉 Inflationary dynamics in #Russia are not slowing down despite the central bank's rate hike;

👉 Unemployment in Russia remains at a record low of 2.4% as in June.