Russian extractive industries to narrow output forecast gap by end of year - econ minster

MOSCOW. Oct 13 (Interfax) - Manufacturing growth in Russia is currently within forecast, but there is a gap in extractive industry output which should narrow at the end of the year, Economic Development Minister Maxim Reshetnikov said at a meeting of the State Duma's Budget Committee.

"Our current forecast for manufacturing output in 2025 is 3.1% growth, and we currently have 3.2% growth [for January-August]. In other words, everything is going to plan for our manufacturing sector," he said, commenting on whether the Economic Development Ministry's 2025 industrial growth forecast was realistic.

"We have actually seen certain declines in mineral extraction over the last few months. Here, too, we are expecting a recovery, including in gas and oil production-the recent OPEC decisions will also give us a lift and we expect to narrow this gap by the end of the year," the minister said.

Rosstat has said year-on-year industrial output growth in Russia slowed to 0.5% in August from 0.7% in July. Output rose 0.8% in January-August.

Growth in manufacturing accelerated to 2.4% year-on-year in August from 1.5% in July and was 3.2% in the first eight months of 2025.

In extractive sectors, production slumped 2.5% in August after zero growth in July, and declined by 2.4% in the eight months.

The consensus forecast of economists polled by Interfax in early October projects industrial production growth of 0.9% in Russia in 2025. The Econ Ministry in September lowered its industrial output growth forecast for 2025 to 1.5% from the 2.6% projected in April.