Russian economy expands faster than expected

The Russian economy is expanding more rapidly than initially predicted, according to Prime Minister Mikhail Mishustin.

At a meeting with Daniil Egorov, Head of the Federal Tax Service, Mishustin reported that the country’s industrial sector expanded by more than 5 per cent in the first half of 2024, marking significant growth.

Daniil Egorov added that Russia’s budget revenue targets for 2024 are expected to be met, stating, “by the end of the year, we predict that the budget will be fulfilled. We do not see any significant problems here.” The positive outlook underscores the economy’s robust performance across key sectors.

Attribution: The Canadian Press