Rosstat raised the estimate of GDP growth in 2021 to 5.6%

According to the updated estimate, GDP increased by 5.6%, which is 0.9 percentage points higher than the previous estimate - the first and second estimates reported an economic growth of 4.7%.

During the pandemic 2020, GDP fell by 2.7%. The assessment remained the same. Since 2008, the Russian economy has only twice overcome the growth rate of 5%. In 2008, GDP grew by 5.2%, and in 2007 - by 8.5%. Rosstat noted that the clarification of the assessment of the Russian economy for the past year is based on the annual results of federal statistical observations, data from the annual budget (accounting) statements of the Federal Treasury.

Earlier this week, Russian Prime Minister Mikhail Mishustin announced a 2% decline in the Russian economy this year. In November, unemployment in the country fell to 3.7%, being at the lowest level in the entire history of observations. First Deputy Prime Minister Andrei Belousov said that in March 2022, the Russian economy was close to chaos.