MOSCOW, Feb. 3 (Xinhua) -- Russia's gross domestic product (GDP) is expected to grow by 1 percent to 1.3 percent in 2026, Deputy Prime Minister Alexander Novak said Tuesday.
Inflation is expected to slow to the target level of 4 percent to 4.5 percent in 2026, Novak said during a meeting of the Federation Council Economic Policy Committee.
Novak said the country's economic growth slowed to 1 percent in 2025 due to tight monetary and fiscal policies as well as its inflation targeting framework.
Industrial production, especially the manufacturing sector, remains one of the key drivers of economic growth, he said, noting that the growth of the manufacturing industry amounted to 2.8 percent last year.
Novak added that real wages rose on average in 2025. "According to preliminary estimates, real wages, net of inflation, grew by 4.5 percent," he said. ■
