Putin sees Russia's economic growth at 2.5–2.8% in 2023

MOSCOW, Sep 18 (PRIME) -- Russia's gross domestic product (GDP) growth may amount to 2.5–2.8% in 2023, President Vladimir Putin said Monday at a meeting on the federal budget drafting for 2024–2026.

"Some used to forecast a minus initially, then revised the estimate to a 1.2% (rise), but we have exceeded the level in fact, and may reach an even 2.5% level, perhaps, even 2.8% at the year end," Putin said. The GDP has returned to the level of 2021, he said, adding that consumer demand and the industry, mainly the processing one, were adding confidently.

Core capital investments grew 12.6% on the year even amid a high base effect, he said.

The federal budget saw a surplus in August, although there was a small deficit since the beginning of the year, he said. Budget's oil and gas revenue recovered to the level of 2022 in July–August, while non-oil and gas one exceeded the level of 2022 significantly.

The situation in the economy is better than forecasted on a range of key performance figures, the president said.  

According to the official, the recovery of the national economy has finished. At the same time, the acceleration of inflation is one of the key problems of the economy, he said.

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