Alexander Novak held a meeting on the current situation in the economy
Alexander Novak held a meeting on the current situation in the economy
Alexander Novak held a meeting on the current situation in the economy
Alexander Novak held a meeting on the current situation in the economy
Deputy Prime Minister Alexander Novak held a meeting on the current economic situation. It was attended by Deputy Head of the Presidential Administration Maxim Oreshkin, representatives of the Ministry of Economic Development, the Ministry of Finance, the Ministry of Agriculture, the Ministry of Energy, the Ministry of Industry and Trade, the Ministry of Labor, the Ministry of Construction, Rosstat, the Eurasian Economic Commission, as well as the Bank of Russia, Sberic, VEB.rf, experts and scientists from the Center for Macroeconomic Analysis and Short -termine forecasting, structures of the Russian Academy of Sciences, etc.
The participants discussed the results of the work of the economic bloc in January – February 2025 and proposals for further development of the economy, taking into account current challenges.
According to the Ministry of Economic Development, the growth of the Russian economy continues at about 3% taking into account the calendar factor in February.
Almost all sectors of the economy grow at the level or even higher than January. At the same time, individual industries demonstrated the acceleration of the rate even taking into account fewer days – the growth of the construction sector accelerated to +11.9% year after +7.4% in January. The growth rate of production in the chemical industry, mechanical engineering in January – February survived at a comparable level according to the results of last year. In the consumer segment, high pace retains the sphere of catering – growth in January – February 2025 at the level of 2024: +9% year.
High growth rates for more than six months have come against the background of low unemployment: in January – February 2025 – at 2.4%. The increase in wages of the population is also preserved. So, in January, salaries grew by 17.1% in nominal and 6.5% in real terms.
According to the results of the meeting, Alexander Novak instructed the Ministry of Economic Development and the Ministry of Finance to prepare a report on the current situation in the economy and relevant risks in the second – fourth quarters of 2025. The Ministry of Construction was instructed to analyze the situation in the construction industry as a whole, as well as in the field of demand and proposal of building materials for the medium -term period until 2028 inclusive. The Ministry of Agriculture was instructed to report on the course of the sowing campaign and other issues of industry development.