Barclays analysts improve forecasts for Russia’s GDP growth 12:00

Analysts at British investment bank Barclays revised their 2022-2023 economic growth forecasts for Russia and Turkey. According to this Bloomberg According to the analysts’ report, Russia’s 2023 GDP growth forecast was increased to 1.7% from the previously estimated 0.7%, and for Turkey from 1.2% to 2.9%.

According to Barclays experts, the active fiscal policy of the Russian and Turkish authorities supports the economies of these countries. Budget expenditures and expansion of loans to citizens stimulate domestic demand in Russia. First half growth in Turkey was better than expected.

At the same time, analysts of the bank draw attention to the risk of a slowdown in the recovery of the Russian economy due to the tightening of the monetary policy of the Central Bank of the Russian Federation and the imposition of new sanctions. Turkey’s 2023 GDP forecast was increased from 0.5% to 1.6%.

In July, the Russian Ministry of Finance called. likely Scenario of the country’s GDP growth of 2% in 2023. The acceleration of the tightening cycle of monetary policy in the Russian Federation and Turkey takes place in an environment of high inflation. But analysts at Barclays said the government’s support for the economy allows for better growth forecasts.

Before Putin declaration on reducing the budget deficit.

Source: Gazeta


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