Mishustin predicted GDP growth for this year above 2%

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Minek appreciated Russia’s GDP grew by 5.4% in May on the back of last year’s low base effect. Seasonally adjusted, the figure rose 1.4% after rising 0.1% in April. A month earlier, GDP increased by 3.4% (the ministry adjusted the estimate from 3.3%), in March, February and January it decreased by 0.7%, 2.6% and 2.7% respectively. According to the Ministry of Economics, for five months since the beginning of the year, the growth amounted to 0.6%. In the first quarter of 2023, the economy contracted by 1.8% compared to the same period last year.

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