The head of ACRA called the timing of the return of the Russian economy to the indicators of 2019

Given the sanctions pressure on Russia, the country’s economy may return to pre-pandemic levels no earlier than in five years. Such an assessment in an interview RBC gave ACRA CEO Mikhail Sukhov.

“The time frame for the economy to reach the pre-pandemic level – in fact, it needs to be compared with it – is beyond the five-year forecast. I don’t think it’s such a rosy picture,” he said.

Sukhov explained that this time is necessary for a fundamental restructuring of the economy. According to him, it was initially clear that this process would be lengthy. At the same time, the head of ACRA added, the initial forecasts of experts were “more pessimistic than the actual results of the year.” In the next two years, GDP will decline, already in 2024-2025. gradual growth is expected, Sukhov noted.

In early September, the Ministry of Economic Development improved forecast for a decline in Russia’s GDP in 2022 to 2.9%. In 2023, the indicator is expected to decrease by 0.8%. At the same time, in 2024-2025. the ministry predicts GDP growth of 2.6% per year.

The day before, on December 15, Russian President Vladimir Putin said that the decline in GDP for the year is projected by about 2.5%. head of state emphasizedthat large-scale Western sanctions against Russia have not achieved their goal. According to him, the calculation of Western countries for the collapse of the Russian ruble, as well as the acceleration of inflation in the country, did not materialize.