MOSCOW, Dec. 11 (Xinhua) -- Russia's economy is projected to grow by 3.9 percent in 2024, Russian Deputy Prime Minister Alexander Novak said on Wednesday.

Novak noted that the Russian economy has shown steady development despite external challenges in recent years.

From 2020 to 2024, the Russian economy is expected to grow by approximately 12.7 percent, he said, adding that includes growth over 3.6 percent last year and an anticipated 3.9 percent increase this year.

He noted that the forecasted growth is much higher than the global average and the rates of developed economies.

Novak also noted a robust increase in the country's investment, which grew by 9.8 percent in 2023 and 8.6 percent in the first nine months of 2024 from the same period last year. Enditem

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