Russian GDP grew 4.1% in 2024 – Mishustin

Russia’s GDP reached a record high last year, according to Prime Minister Mikhail Mishustin, who made the remarks on Friday during a meeting with Russian President Vladimir Putin on macroeconomic policies for sustainable growth.

Mishustin cited data published by Russia’s state statistics agency, Rosstat, which reported that GDP grew by 4.1% in 2024, “driven by high investment and consumer activity.”

According to the prime minister, Russia’s nominal GDP hit a record high of 200 trillion rubles (over $2 trillion) by the end of 2024.

He emphasized that the Russian economy is successfully adapting to sanctions, unlike some of the countries that agreed to impose them, which are now facing stagnation. Mishustin described the manufacturing sector as the key driver of Russia’s economic growth.

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