Russia’s economy to grow 3.9% by year-end – Putin

The national economy is projected to grow by 3.9 per cent by the end of this year, surpassing the global average growth rate, Russian President Vladimir Putin announced during a meeting on Monday.

Russia’s industrial sector, especially high-tech industries, is leading this growth with an 8-month industrial expansion of 4.5 per cent, including an 8.1 per cent rise in processing industries and nearly 20 per cent growth in machine-building.

Putin attributed the strong indicators to robust order volumes and stable employment, which reflect positively in the labour market.