MOSCOW, Feb. 4 (Xinhua) — Russia’s gross domestic product (GDP) rose by 4 percent in 2024 over the year before, Russian Prime Minister Mikhail Mishustin said on Tuesday during a government meeting on economic issues.
The prime minister said this growth was largely driven by the manufacturing sector.
“According to preliminary estimates from the Ministry of Economic Development, Russia’s GDP grew by approximately 4 percent by the end of 2024, due to high investment and consumer activity,” Mishustin said.
He pointed out the manufacturing sector grew by 8 percent, surpassing initial predictions.
The prime minister noted that this sector generated significantly more added value compared to the simple sale of raw materials, and said this confirmed the shift of the Russian economy towards technological development.
“It is important to maintain and strengthen this trend in the coming years”, he stressed, adding that it was necessary to ensure macroeconomic stability, as this is a fundamental condition for sustaining positive progress across various fields.
