OREANDA-NEWS  The Ministry of Economic Development of the Russian Federation, taking into account the current dynamics, raised the forecast for GDP growth in 2024 from 2.3 to 2.8 percent, said the head of the department Maxim Reshetnikov, quoted by RIA Novosti.

"Domestic consumer and investment demand remains the main growth factor," a government official said at a government meeting.

Earlier, Finance Minister Anton Siluanov announced the expected growth rate of the country's economy of 3.6 percent this year. In turn, analysts at the International Monetary Fund (IMF) increased the projected size of Russian GDP by the end of 2024 to 3.2 percent against the previously expected 2.6 percent. The World Bank also raised its growth forecast, raising it to a more modest 2.2 percent.