The growth of the Russian economy in 2021 amounted to 4.6%. This is stated in the report “On the Current Situation in the Russian Economy”, published on February 9, prepared by the Ministry of Economic Development of the Russian Federation.
According to the agency’s estimate, in December 2021, GDP grew by 4.3% in annual terms after a 5.3% increase in November (the estimate has been revised from 5.2%).
In general, in 2021, Russia’s GDP growth was at the level of 4.6% compared to 2020. Whereas in 2020 the Russian economy decreased by 2.7% compared to 2019.
GDP growth relative to pre-pandemic 2019 was 1.8%. According to the Ministry of Economic Development, both manufacturing industries and industries focused on consumer demand contributed to the recovery of the Russian economy last year.
Russian President Vladimir Putin said on January 26 that the global economic crisis caused by the coronavirus pandemic did not affect Russia as significantly as other states. This became possible thanks to the structural soundness of the Russian economy, the President noted.
Before that, on October 13, 2021, Putin said that by the end of 2021, Russia could reach a record GDP growth. According to him, the entire economy of the Russian Federation “works rhythmically.”
On October 12, the International Monetary Fund (IMF) improved its forecast for Russia’s GDP growth from 2021 to 4.7%. In July, the IMF predicted Russia’s GDP growth this year at 4.4%.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
