The Accounts Chamber saw the risks of not achieving GDP growth at 3% in 2022-2024

The Accounts Chamber considers 3% GDP growth in Russia in 2022–2024 “quite an ambitious goal.” She notes that for this it is imperative to effectively implement the activities of state programs, national projects and strategic initiatives of the government. This creates risks of failure to achieve the stated goal, according to the Accounts Chamber.

“A prerequisite for reaching the target rates of economic growth is their (state programs, national projects and strategic initiatives. – “B”) implementation in full, which creates risks of failure to achieve the projected GDP growth rates, ”the conclusion says.

The Accounts Chamber calls the achievement of 3% economic growth an ambitious task, given that over the past 10 years, GDP growth did not exceed 2.8% per year, “despite the growth of investments in fixed assets of about 5% per year.” It is also noted that there are risks of failure to achieve the presidential decree in terms of ensuring the GDP growth rate above the world average. This will happen if, after 2024, the growth of Russia’s GDP falls below the target 3%, and the growth rates of the world economy “, contrary to the medium-term forecast, remain above 3%.”

The Ministry of Economy of the Russian Federation predicts the growth of Russia’s GDP this year at the level of 4.2%. The agency has raised the estimate compared to the July interim forecast, which assumed the growth of the Russian economy by 3.8%.

About the macro forecast and the budget – in the material of “Kommersant” “The deputies supported the shield of the motherland.”



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