Putin predicts modest Russian GDP growth by year-end

Russian President Vladimir Putin has said that Russia’s gross domestic product (GDP) is expected to grow by around 1% by the end of 2025, while inflation is forecast to be at or below 6%.

Speaking at a meeting of the Council for Strategic Development and National Projects, Putin said the pace of economic growth had slowed this year, as previously anticipated, Caliber.Az reports via Russian media.

“Over the course of the year, the Russian economy has passed through an expected phase of deceleration. Alongside a reduction in inflation, GDP growth rates have also declined. By the end of the year, growth will be around 1%, while inflation will be close to or even below 6%. Overall, the objective has been achieved,” he said.

Putin added that conditions have now been created for an acceleration in economic activity. He also stressed the need to maintain low unemployment and keep inflation at a moderate level going forward.

By Aghakazim Guliyev