Russia's 2025 GDP growth will be no less than 1.5% according to Econ Ministry estimate - minister

MOSCOW. Aug 27 (Interfax) - Russia's GDP growth in 2025 will be no less than 1.5% according to the expectations of the Economic Development Ministry, Finance Minister Anton Siluanov said at a meeting between President Vladimir Putin and members of the government.

"Indeed, if this year we see quite tight conditions for monetary policy, we see that the economic growth rates will nevertheless be no less than 1.5%, at least according to the Economic Development Ministry's estimate, in the current year," Siluanov said.

The Econ Ministry's press office said it was too soon to talk about the ministry's adjusted estimates. "Work on the macroeconomic forecast is ongoing, the updated figures will soon be unveiled," it told reporters.

The Econ Ministry estimates GDP rose 1.2% year-on-year in January-July 2025.

In its baseline scenario in April, the ministry predicted 2.5% GDP growth in 2025 and 2.4% in 2026. It will unveil an adjusted forecast at the start of September.

The Central Bank in July kept its April forecast of 1.0%-2.0% GDP growth for the year unchanged. It said in a commentary to the forecast that GDP grew an estimated 1.8% in Q2 2025, and Rosstat estimated growth at 1.1%.

Analysts surveyed by Interfax at the start of August forecast GDP will grow 1.4% in 2025 and 1.7% in 2026.