In the second quarter of 2023, the regulator expects the Russian economy to grow by 4.2%. The recovery scenario is described in the following section: report About the monetary policy of the Central Bank.
According to the Central Bank, higher consumer and investment activity and a lower unemployment rate in January-March 2023 allow us to raise the 2023 GDP growth rates forecast to 0.5-2.0%.
At the same time, according to the Central Bank, the main driver of economic growth this year will be domestic demand. The Central Bank also believes that the economy will continue to recover next year and will return to its 2021 fourth quarter indicators by the end of 2024.
Last week, the ratio of Russia’s foreign debt to GDP in 2022 was announced fallen to at least 16.6%.
Previously at the IMF declarationThe Russian economy has proven to be more resilient to sanctions than expected.