The World Bank (WB) expects Russia’s GDP to grow by 2.6% in 2023, and by 1.3% and 0.9% in the current and future years, respectively. This is stated in the published statement. report ETC.
Previously, in June 2022, the World Bank predicted that the Russian economy would shrink by 0.2% in 2023. However, the new report increased this figure by 2.8 points.
According to World Bank experts, a better-than-expected economic recovery in Russia was achieved by significant budget support, including for defense needs. Production and exports of Russian oil also decreased slightly.
The World Bank predicts that domestic demand is expected to decrease in the future due to tight monetary policy. According to experts, after the start of the SVO, the amount of migration from Central Asian countries to Russia increased.
Last week, labor ombudsman Boris Titov named The main problem of the Russian economy.
Putin before named GDP growth according to 2023 results.