Growth in Russian manufacturing slows amid curbed inflation, should total 3% in 2025 - PM Mishustin

YEKATERINBURG. July 8 (Interfax) - Russian manufacturing will continue to grow in 2025, though the dynamics have become more moderate amid measures to prevent the economy from overheating and curb inflation, Prime Minister Mikhail Mishustin said.

Mishustin said that manufacturing output should increase 3% in 2025 after growth of 8.5% in 2024.

"We have maintained positive dynamics this year although the pace has become more moderate. In January-May, the increase in output in the manufacturing sector was slightly more than 4%, and we forecast growth at up to 3% based on the results of twelve months," Mishustin said at the Innoprom 2025 strategic session.

"The slowdown is necessary and is related to the need to render balanced decisions regarding macroeconomic indicators in order to prevent so-called overheating in the economy and curb inflation," he added.

Mishustin also noted that businesses continue to increase capital investments despite tight monetary policy and the high cost of credit resources.

First Deputy Prime Minister Denis Manturov earlier in June told reporters that he expects manufacturing output to rise 2.5%-3% in 2025.

The Federal State Statistics Service (Rosstat) has reported that manufacturing output rose 4.2% in January-May 2025, after growth of 8.5% in 2024 and 7.5% in 2023.