The Russian economy will shrink slightly this year and will start growing next year. It has been reported TASSReferring to the UN’s published “World economic situation and prospects” report.
According to the report, the economy of the Russian Federation will shrink “marginally” in 2023 and return to low growth in the medium term in 2024.
Citing the difficulty of making economic forecasts in the context of the ongoing conflict in Ukraine, the authors of the report did not provide any specific figures or indicators.
Previously, the Central Bank of the Russian Federation published The report on the monetary policy of the Central Bank, describing the recovery scenario of the economy of the Russian Federation. According to the document, the regulator expects the Russian economy to grow by 4.2% in the second quarter of 2023. 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%.