According to the consensus forecast, Russia’s GDP will grow by 0.9% Izvestia. As stated in the publication, this is a more optimistic scenario than the IMF (plus 0.7%). At the same time, this is a more pessimistic scenario compared to the projections of the Ministry of Economic Development, which is allowed to grow by 1.2% in 2023.
According to this year’s results, seven of the eight surveyed experts from the largest financial institutions told the newspaper about the growth in Russia’s GDP. Zero dynamics of GDP is allowed in 2023 at Zenit Bank.
Absolut Bank has the most optimistic forecast. According to the bank’s forecasts, growth may be 2-3 percent in 2023, and another 3-4 percent increase in 2024. The bank said consumer demand has been gradually recovering, although so far it has remained restrained.
According to the publication, growth in Russia’s GDP in 2023 will be supported by increased consumer demand and a redirection of exports to new countries, for example, India, China and other “new” countries. In addition, the article adds that the implementation of government programs and support measures, continued demand for credit, especially in the corporate segment, and other factors will facilitate the economic recovery.
May 7 reportedAccording to last year’s results, Russia is back in the ten largest economies in the world, for the first time in eight years.