Russia's GDP Expected to Grow Between 1% and 1.3% by 2026, Says Deputy PM Novak
Moscow. According to information provided by Russian Deputy Prime Minister Alexander Novak on Tuesday, the country's Gross Domestic Product (GDP) is expected to grow between 1% and 1.3% by 2026.
He estimated that inflation could reach the target level of 4% to 4.5% in 2026.
Novak stated at a meeting of the Federation Council's Economic Policy Committee that the country's economic growth rate was limited to just 1% in 2025, primarily due to tight monetary and fiscal policies and the inflation control system.
He added, 'The growth rate of the construction industry reached 2.8% last year. Real wages increased on average in 2025. According to preliminary estimates, real wages showed a 4.5% increase after removing the effect of inflation.'
This specific news has been automatically translated by AI. As a result, there may be some inaccuracies or language errors.
