Russia’s economy expanded to 200 trillion rubles ($2.37 trillion) in 2024, growing six times faster than Europe’s, Prime Minister Mikhail Mishustin announced on Wednesday. Speaking before the State Duma, he credited domestic demand as the key driver, highlighting a 7.5% rise in fixed capital investments last year.
Mishustin noted that Russians’ disposable income surged by 8.5% while unemployment hit its lowest level in history. Over the past two years, Russia’s economic growth has outpaced the global average, solidifying its place among the world’s top four economies in purchasing power parity.
“Russia’s economy grew by 4.1% last year,” Mishustin stated. “In two years, our growth has exceeded Europe’s almost sixfold.”
