Russia’s economic growth to slow after ’24 peak

Russia’s GDP growth is projected to rise to 3.9 per cent in 2024, up from 3.6 per cent in 2023, according to the OECD’s latest Economic Outlook.

However, growth is forecasted to decelerate, reaching 1.1 per cent in 2025 and 0.9 per cent in 2026.

Inflation is expected to climb to 8.2 per cent in 2024, compared to 7.4 per cent in 2023, before easing to 7.0 per cent in 2025 and further declining to 5.2 per cent in 2026.

The outlook suggests an initial spike in inflation before a gradual return to more stable levels in the medium term.

Attribution: OECD

Subediting: M. S. Salama