Russian ministry sees 2024 GDP at 2.8%, but with higher inflation, weaker rouble

Russia's economic rebound from a 2022 slump relies heavily on state-funded arms and ammunition production as Moscow prosecutes its war in Ukraine

Darya Korsunskaya, Reuters News

April 23, 2024

RUSSIA ECONOMY

PHOTO

Russia's economy ministry raised its expectations for 2024 gross domestic product (GDP) growth to 2.8% from 2.3% in new forecasts published on Tuesday, while envisaging a weaker rouble and higher inflation.

Russia's economic rebound from a 2022 slump relies heavily on state-funded arms and ammunition production as Moscow prosecutes its war in Ukraine, masking problems that are hampering an improvement in Russians' living standards.

(Reporting by Darya Korsunskaya, Alexander Marrow and Maxim Rodionov Editing by Andrew Osborn)

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