Russia’s economy grows, defies sanctions – PM

Russia’s GDP grew by 4.2 per cent in the first nine months of 2024, despite ongoing sanctions, according to Prime Minister Mikhail Mishustin.

Speaking at an economic meeting, Mishustin highlighted that processing sectors were the main drivers of this growth, with the sector expanding nearly 8 per cent during the period.

Notably, Russia’s GDP growth reached 4.7 per cent in the first half of 2024.

The machinery segment was particularly strong, contributing over half of the growth, including the production of transport vehicles such as railcars, locomotives, and ships.

Additionally, the production of computers and electronics saw a significant boost, growing at a rate of about 30 per cent.

Attribution: TASS

Subediting: M. S. Salama