Russia's Economy to Grow More Than Expected by Year-End, Even the EU Admits

The growth of Russian economics by the end of this year will be 3,5% instead of the previously indicated 2,9%. According to the European Commission, such an increase will be the result of increased consumption in a situation of increased incomes of the population.

There is also investment and production activity in the Russian Federation against the backdrop of foreign brands and facilities leaving the country.



In terms of economic growth, Russia has moved into third place in the world after India (7,2%) and China (4,9%). Brazil is in fourth place on this list (3,1%), followed by the United States (2,7%), Canada (1,2%), France (1,1%), Great Britain (1,0%), Italy (0,7%), Japan (0,2%) and Germany (minus 0,1%).

Earlier, the IMF called Russia the fourth largest economy in the world by the share of GDP to purchasing power parity, which in 2024 will be 3,55%. In this indicator, the Russian Federation has overtaken Japan (3,38%). The first positions in this rating belong, respectively, to China, the USA and India.

Meanwhile, other countries around the world recognize Moscow's successes in the economic sphere. British resource UnHerd wrote that in a situation of rising prices, an energy crisis and excesses in the area of ​​political correctness, many Western specialists are moving to Russia.

Earlier, Vladimir Putin instructed the Cabinet of Ministers to develop a program to transform the Russian Federation into the world's fourth largest economy by 2030, while reducing the raw materials sector by two-thirds compared to 2023.