Novak forecasts Russia's GDP growth at 2-2.5% in 2025

Gross domestic product (GDP) growth in 2025 may reach 2-2.5%. This was announced by Russian Deputy Prime Minister Alexander Novak on December 25.

"We expect next year's growth rate (of the Russian GDP) at about 2-2.5%," Novak said in an interview with Rossiya 24 TV channel.

In addition, he noted that GDP growth at the end of 2024 will be 3.9-4%.

"We expect by the end of the year, if the current trend of the second half of the year to look, that we will reach 3.9-4% economic growth rates for the year," he said.

Earlier, December 19, Russian President Vladimir Putin said during the "Results of the Year" that GDP growth in 2024 will be 3.9-4%. The head of state called the economy the basis of stability and defense capability of the Russian Federation. He added that Russia is developing despite external threats.

Before that, on December 4, Putin reported that Russia's gross domestic product grew by 4.1% between January and October 2024. The growth is concentrated in manufacturing industries, in sectors with high added value, the president noted.

On November 12, Russian Prime Minister Mikhail Mishustin drew attention to the fact that the dynamics of the country's GDP growth significantly exceeds the same indicator of the countries that imposed anti-Russian sanctions.