Russia's GDP grows by 5.4% in Q1, says PM

By Li Ming
  • World
  • Friday, 31 May 2024

MOSCOW, May 30(Xinhua) -- Russia's GDP increased by 5.4% in the first quarter of the year, said Russian Prime Minister Mikhail Mishustin on Thursday.

"At the beginning of this year, Russia's economy continues to develop dynamically. According to preliminary estimates, the gross domestic product grew by 5.4% in the first quarter," Mishustin said at a meeting of the Russian government, adding that industrial production increased by 5.2% in the same period.

He added that last year's economic results showed the positive trends in the economy--GDP increased, the budget deficit was lower than planned, and public debt remained in a range convenient for servicing.

Earlier in April, the Central Bank of Russia raised its forecast for Russia's GDP growth in 2024 to 2.5-3.5% from 1.0%-2.0%.

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