Putin: Russian economy grew by 4.6% in first six months of 2024, continues to rise

“According to estimates, the gross domestic product increased by 4.6% in the first half of the year,” Putin said at a government meeting on economic affairs on Monday.

The Russian President added that the national economy, like last year, continues to grow at a good pace, and pointed out that unemployment in the country is at a record low, reaching 2.4% last June.

Putin pointed out that the growth of the economy and wages has a positive impact on the Russian budget. In the first seven months of this year, its revenues approached 20 trillion rubles (about $222 billion), an increase of 36% over last year.

The Russian President explained that nearly two-thirds of the budget revenues are revenues not related to oil and gas, and do not depend on the export of hydrocarbons.

During the meeting, Putin called on the government and the Central Bank to take more effective and coordinated measures to curb inflation, saying: “It is clear that it is necessary to combat inflation by increasing the supply of goods and services.”

He stressed that the volume of supply of goods and services in Russia must meet local demand, whether from citizens or from institutions and companies implementing development projects and investing in expanding their capabilities in the field of construction and purchasing equipment.

The Russian economy grew by 3.6% last year, 2023, and Russia’s GDP amounted to 171.041 trillion rubles, according to Rosstat data.

(1 dollar = 90 rubles)

Source: RT