Economy Ministry to Raise GDP Growth Forecast for 2021

Russian Minister of Economic Development Maxim Reshetnikov informed reporters that the Ministry of Economic Development and Trade will boost its projection for Russia’s GDP growth in 2021 from 2.9 percent.

The Ministry of Economic Development’s forecasts for Russian economic growth this year are by far the most conservative. Several international agencies have changed their estimates upward in the past. The Central Bank of the Russian Federation forecasts GDP growth of 3-4 percent, which is greater than the Ministry of Economic Development’s prediction.

Reshetnikov stated that he will provide an intermediate prediction to the regions next week.