Former Russian Finance Minister and economist Mikhail Zadornov reported that the Russian economy has passed the peak of overheating.
According to the expert, already in the first quarter of 2024, the growth of the Russian economy amounted to 5.4 percent.
In the second quarter of this year, economic growth slowed down, reaching 4.8 percent, RIA Novosti reports.
The economist also drew attention to the fact that in mid-2023, the onset of overheating was observed, which has now begun to subside.
Economic forecasts
Zadornov also emphasized that, based on the results of the first half of 2024, economic growth amounted to an average of 5 percent.
Rosstat, in turn, emphasized that Russia’s GDP in annual terms showed growth of 4.9 percent.
In the second quarter, as the Russian Ministry of Economic Development claimed, GDP growth slowed to 4 percent.
The Central Bank of Russia, in turn, demonstrated a more positive assessment. In particular, it expects economic growth to slow to 3.2 percent.
