Russia’s GDP up 4.6% in H1 ’24 – Putin

The Russian economy continues to grow at a robust pace, with GDP rising by 4.6 per cent during the first half of the year, Russian President Vladimir Putin stated at a recent economic meeting.

Putin noted that Russia’s unemployment rate reached a record low of 2.4 per cent in June, and real wages increased by 10.1 per cent from January to May 2024.

Despite a rise in the key interest rate, he highlighted that bank lending is accelerating and should not lead to negative consequences.

Addressing inflation, Putin called for coordinated efforts between the government and the Central Bank of Russia to enhance the supply of goods and services.

Putin also underscored the need to support business investments in modernisation, new production facilities, job creation, and personnel training to sustain positive trends in the real sector.