Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, presented scenario conditions and main parameters of the forecast of socio-economic development for the medium term until 2027 at a Government meeting. This is stated in the message of the ministry.
The Ministry of Economic Development has raised the forecast for Russia's GDP growth this year to 2.8% from 2.3%. Domestic consumer and investment demand remains the main growth factor.
Investment growth for the current year is projected at 2.3%, despite the high base of last year (+9.8%). Retail trade growth in real terms may amount to 7.7%, paid services – 5.1%. Higher consumption growth rates will be provided, first of all, by the growth of own production.
In 2024, cash income is projected to increase by 5.3% in real terms. Wages are expected to grow by 6.5% in real terms. Unemployment will remain at a level of no more than 3%.
