An informed source revealed to “Novosti” agency that the Russian government estimates the growth of the Russian economy in 2023 at about 1%, and in 2024 at 2%.
The source said, “The government has estimates of about 1% this year, and 2% next year. These are current estimates, and they are not official expectations yet, but there are such expectations in the current estimates.”
The current expectations of the Russian Ministry of Economic Development indicate a decline in the economy by 0.8% this year, but last March, the Minister of Economic Development, Maxim Reshetnikov, stated that the ministry expects the growth of gross domestic product and investment in Russia in 2023. He later said that economic growth will be remarkable.
It is planned that the Russian Ministry of Economic Development will update its expectations for the performance of the Russian economy in the current year and in the coming years in April.
For its part, the Bank of Russia (the Russian Central Bank) expects either a decline in the Russian economy at the level of 1% or a growth of up to 1%.
Yesterday, the President of the Russian Central Bank, Elvira Nabiullina, stated that the bank will clarify the overall expectations at the April 2023 meeting, which is scheduled to be held on April 28.
Last week, the World Bank published updated forecasts for the Russian economy. Last January, the World Bank expected a decrease in Russia’s GDP in 2023 by 3.3%, while in the updated forecasts it expected a decline of 0.2%.
The International Monetary Fund has also improved its estimates of the performance of the Russian economy twice this year. The Fund expects Russia’s GDP to grow by 0.7% in 2023.
This article was originally published by RT.
