The government of Russia today predicted economic growth for this year of 3.5%, well above the forecasts of local authorities and international institutes for the second year of the Russian military campaign in Ukraine.
The Minister of Economy, Maxim Reshetnikov, argued his prediction in the results recorded already in the first eleven months of 2023 and, especially, in the second half of this year, according to a comment published by his portfolio.
Reshetnikov, who highlighted the adaptation of the economy to international sanctions and the crisis situation created after the coronavirus epidemic, had forecast a growth in the Gross Domestic Product of 2.8% for this year.
He also highlighted the fact that the state statistics agency, Rosstat, revised downwards the contraction forecast for 2022 the day before, from 2.1% to 1.2%. “This confirms our ability to adapt effectively to any turbulence,” he said.
In mid-December, the Central Bank of Russia raised interest rates by one percentage point, to 16%, and forecast growth of more than 3% in the national economy by 2023. In its first major press conference of the war,
Putin assured on December 14 that he expected growth of 3.5% this year, which he considered that the country has already recovered from the 2022 recession.
Source: Gestion
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