The MAYOR expects GDP growth of the Russian Federation at the level of 3% in the coming years

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AK&M 21 September 2021 19:03

The Ministry of Economic Development expects GDP growth of the Russian Federation at the level of 3% in the coming years. The main contribution to the assessment of GDP growth will be made by the expansion of consumer demand, primarily the growth of real disposable incomes of the population. This was stated by the Minister of Economic Development Maxim Reshetnikov at a Government meeting, according to a transcript posted on the website of the Cabinet of Ministers.

In 2022, the rate of GDP growth will be influenced by two factors: growth will be influenced by an increase in oil production as part of the completion of the OPEC+ deal, and the tightening of monetary policy will also have a restraining effect.

A stable situation on the labor market, a low unemployment rate (no higher than 4.6–4.7 percentage points), wage growth, as well as the recovery and subsequent growth of business income and property income will also contribute to income growth. Accordingly, an increase in retail turnover and paid services to the population is expected.