Russia’s GDP grows 4.2 pct in first three quarters of 2024: PM

MOSCOW, Nov. 14 (Xinhua) — Russia’s GDP rose by 4.2 percent in the first nine months of 2024 despite the ongoing sanctions pressure, Russian Prime Minister Mikhail Mishustin said Thursday.
“Despite the unprecedented sanctions pressure from unfriendly states, the GDP increased by 4.2 percent over the first nine months, based on the updated estimate from the Ministry of Economic Development,” Mishustin said during a meeting on economic issues.
Mishustin noted that the manufacturing sector continues to be the primary driver of industrial growth, which includes areas critical to achieving the country’s technological and industrial sovereignty.
He added that the sector grew by nearly 8 percent over three quarters, with the machine-building complex driving more than half of the growth in September.
The prime minister also said investments increased by more than 10 percent in the year’s first half.
“It is important for us to maintain further sustainable development. For this purpose, national projects have been established based on the president’s instructions,” Mishustin said. ■