MOSCOW: The Russian GDP surged by 5.4% as of the end of the first quarter of 2024, the Ministry of Economic Development said in its current economic situation review.
In March 2024, the Russian economy grow by 4.2% annually.
“Confident growth of real monetary income of the population in the first quarter of 2024 is explained by a number of factors. Firstly, this is the rise in salaries in conditions of low unemployment. Information and communications, construction and processing facilities are among industries with the highest rate of growth in salaries, which are concurrently drivers of economic development,” department director of the ministry Lev Denisov said as quoted by Russian news agency TASS..
Source: Emirates News Agency