Russian GDP grew 5% in third quarter

The economy is expanding despite unprecedented sanctions from the West Russia’s GDP grew by 5.1% year-on-year in the third quarter of 2023, the country’s central bank said in its latest monetary policy report published on Tuesday. According to the regulator’s estimates, the Russian economy showed significant growth in both the second (4.9%) and the third quarters, prompting the central bank to upgrade its GDP forecast for the year to 2.2-2.7%. “According to our estimates and current data on economic activity, GDP growth in the third quarter exceeded expectations. The main driver was investment demand, which was la

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