Belousov allowed a decline in Russian GDP in 2022 below 3%
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According to the results of the current year, the decline in Russia’s GDP is expected to be below 3%, informed Russian First Deputy Prime Minister Andrey Belousov at a meeting of the presidium of the government commission on improving the stability of the Russian economy under sanctions.
“If we sum up all these conclusions, the trends that I just spoke about, I can say that this year, most likely, the general economic results, if measured by GDP dynamics, will give a decline of less than 3%, somewhere around 2% or more” – said Belousov, his words are quoted by the press service of the government.
Belousov added that in 2023 the decline could be below 1%. According to him, this trend creates “very good conditions for the growth of real incomes of the population, and for the growth of budget revenues next year and, accordingly, in 2024-2025.”
In addition, according to Belousov, inflation in Russia for the year could reach 12-13%, given the trends that are already emerging. He noted that this state of affairs is much more optimistic and positive than the forecasts that were made a few months ago. The decline in consumption, according to Belousov’s forecast, will be about 4.2%.
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