Russian Economy Expands by 4.2% in First Eight Months of 2024, Says Prime Minister

MOSCOW: The gross domestic product (GDP) of Russia increased by 4.2 percent in the first eight months of 2024, announced Prime Minister Mikhail Mishustin during the Made in Russia Export Forum. According to Emirates News Agency, in a statement released by Russian news agency TASS, Prime Minister Mikhail Mishustin highlighted the dynamic evolution of the country's foreign trade despite numerous challenges. "According to the estimate of the Ministry of Economic Development, the gross domestic product increased by 4.2 percent during the first eight months of the current year," Mishustin stated. The Prime Minister attributed this growth to a transformative approach in exports and enhanced cooperation with allied countries. Mishustin emphasized the increasing contribution of these countries to Russia's total foreign trade volume, indicating a strategic shift in the nation's trade partnerships amid global economic tensions.