The projected GDP growth for the country has more than doubled The European Commission (EC) has substantially raised its growth projection for the Russian economy this year, issuing revised figures in its Autumn 2023 Economic Forecast released on Wednesday. Russia’s economy is set to rebound on the back of “stronger-than-earlier expected domestic demand underpinned by fiscal stimulus,” according to the EC. Brussels now expects the sanctioned country’s GDP to grow by 2% this year, a sharp increase from its May prediction of 0.9%. In 2024 and 2025, the Russian economy will grow by 1.6% each year, driven by strong do
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