The Russian Ministry of Economic Development said that the dynamics of GDP are close to the predicted trajectory. TASS.
According to the agency, the decline in GDP in October 2022 slowed to 4.4% year-on-year from 4.5% in September. The Ministry of Economy also reported that the decline in the manufacturing industry slowed down due to the growth of industries based on domestic demand.
Earlier, the May of Russia’s GDP at auction in 2022 go down below 3%, which is much better than estimates. This was expressed by Russian Prime Minister Mikhail Mishustin at a meeting on economic issues.
According to him, previous experts had even predicted a double-digit recession.
He added that a slight recession in the economy is expected within the scope of the sanctions. Also, it needs more time to readjust.
On November 22, VEB.RF chief economist Andrey Klepach said that the decline in Russia’s gross domestic product (GDP) by the end of 2022 could be 3.1%.
Source: Gazeta
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