On December 25th, Russian President Putin announced at an informal summit of heads of state of the Commonwealth of Independent States (CIS) held in Leningrad Oblast that the CIS economies are expected to grow by 4.7% this year. Putin said that macroeconomic indicators in the CIS countries have significantly improved, and it is expected that the GDP growth rate will reach 4.7% in 2024. Meanwhile, data from January to October showed that the trade volume between Russia and other CIS countries reached over 93 billion US dollars, a year-on-year increase of 10.6%. In the first 10 months of the CIS countries, industrial production increased by 4.3%, freight volume increased by 7.4%, and retail trade volume increased by 7.7%.
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