Ministry of Finance predicts inflation at the end of the year at 6% – Kommersant
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Finance Minister Anton Siluanov said that at the end of the year inflation in Russia would be at the level of 6%. The target of 4%, set by the Central Bank, inflation will reach only next year. The minister said this in an interview with CGTN TV channel.
“If last year the economy shrank by 2.1%, then this year we expect the economy to recover by 2.5%, maybe even higher,” said Anton Siluanov (cited from the interview TASS). According to the minister, thus, the Russian economy should win back the fall that happened last year.
According to the forecast of the Ministry of Economy, in 2023 GDP growth will be at the level of 1.2%. The head of the department, Maxim Reshetnikov, said in early August that the GDP growth rate in 2023 would definitely exceed 2%. The Ministry of Economy will prepare a new forecast at the end of the month. According to the forecast of the Central Bank, GDP growth this year will be in the range of 1.5-2.5%.
Annual inflation, according to the forecast of the Central Bank, will be 5–6.5% in 2023 and will reach 4% in 2024. According to the April forecast of the Ministry of Economy, inflation for the year will be 5.3%. By data Rosstat, annual inflation accelerated to 4.66% from 8 to 14 August.
Read more about the dynamics of consumer prices – in the material “Kommersant” “The harvest of inflation is coming”.
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