Russia’s GDP in 2023 will grow by 1.2% according to forecasts by the Ministry of Economic Development, said the head of the department Maxim Reshetnikov.
Speaking at a joint meeting of the boards of the Ministry of Finance and the Ministry of Economic Development, Reshetnikov noted that the forecasts were made against the backdrop of economic recovery and consumer demand.
“We estimate the GDP growth rate this year at 1.2%. By 2026, it will accelerate to almost 3%,” he said. At the same time, Russia’s GDP fell by 2.1% last year.
The previous forecast of the Ministry of Economic Development of the Russian Federation was presented in September, on the basis of which the budget of Russia was drawn up for the next 3 years. According to the September forecast, Russia’s GDP in 2023 was expected to decline by 0.8%. At the same time, already in March, the Ministry of Economic Development announced that it expects growth in GDP and investment in Russia in 2023 and visible economic growth.
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