Russian economy to grow by 4.7% in 2021 – Putin
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MOSCOW, November 12 (Reuters) – Russian economy was on track to post its strongest growth in 13 years and expand through 40.7% in 2021, President Vladimir Putin said on Friday, expressing more optimistic forecasts than those from the central bank and the government.
TRussia’s oil-dependent economy has already returned to pre-pandemic levels after fall 3% in 2020, its biggest contraction in 11 years. But its further expansion could face headwinds from higher interest rates and external shocks.
“In 2021, according to our estimates, it [economic growth] will reach up to 4.7%. Admittedly, this is not the highest growth in the region, but not the lowest. It’s a pretty good result for our economy, ”Putin said.
This economic growth is said to be the strongest since 2008, when Russia’s gross domestic product rose 5.2% before falling 7.8% next year.
The Ministry of Economy has forecast growth of 4.2% this year, while the the central bank expects ththe extension of 4.0% -4.5% athen a slowdown to 2.0% -3.0% in 2022.
(Reporting by Darya Korsunskaya; Writing by Andrey Ostroukh; Editing by Alison Williams and Steve Orlofsky)
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