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Economic Ministry Raises 2023 Growth Forecast to 2.8% from 1.2%

RUSSIA
  • Russia's Economic Development Ministry has raised its forecast for the country's economic growth to 2.8% this year from the 1.2% projected in its April forecast, Interfax cite a spokesman for the ministry as saying. The ministry now expects GDP to expand by 2.3% in 2024, 2.3% in 2025 and 2.2% in 2026, while in April it projected growth of 2.0%, 2.6% and 2.8%, respectively.
  • Russian news outlet Tass report that a meeting between Russian President Vladimir Putin and North Korean leader Kim Jong-un is underway at the Eastern Economic Forum in Vladivostok, Russia. Kremlin spokesperson Dmitri Peskov says the leaders will, "exchange views on most relevant security issues." Peskov says cooperation between the two counties, "is not aimed against other countries" and "should not be a worry for third countries."
  • Weekly CPI data is on the docket this afternoon. Meanwhile, the Eastern Economic Forum concludes in Vladivostok.

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