The Bank of Russia projects that consumer prices will rise by 5-6.5% in 2023.
Russian Finance Minister Anton Siluanov said in a Saturday interview with China Global Television Network (CGTN) that he expects the Russian economy to grow by 2.5% this year.
“We are making efforts to offset these consequences, the consequences of sanctions… They are bearing fruit. While the economy contracted 2.1% last year, we expect it to bounce back this year and grow 2.5% or even more,” he said.
Although inflation is projected to reach 6% by the end of the year, Russian authorities are working to return the target to 4% next year, Siluanov said.
The Bank of Russia projects that consumer prices will rise by 5-6.5% in 2023. In contrast, the unemployment rate has fallen to a decade-low of 3%, he added.
Source: Almayadeen
