Mishustin announced the continuation of the adaptation of the Russian economy to sanctions

The period of Russia’s adaptation to the sanctions policy of the West is still ongoing, Russian Prime Minister Mikhail Mishustin said at a meeting of the Expert Council under the government.

“Now the period of adaptation to current challenges continues. As the president recently noted, there is a recession in the economy, but the situation is better than in many other countries, ”said the prime minister (quote according to RIA Novosti).

According to him, the projected decline in GDP by the end of the year will be at a level of less than 3%. At the same time, the head of government warned that some slowdown could not be avoided, but it is already clear that the negative scenarios did not materialize.

At the end of November the prime minister declaredthat the Russian economy continues to adapt to challenges and shows resilience to a range of risks. At the same time, the government, according to him, needs to be prepared for a possible further intensification of the global crisis and sanctions pressure.

Minek earlier predicted inflation by the end of the year at the level of 12.4%. A year earlier, this figure was 8.4%. It is assumed that in 2023 consumer price growth will be at the level of 5.5%, and in the future it will reach the target level of 4%. According to the results of this year, the country’s economy will contract by 2.9%, the Ministry of Economics expects, and in 2023 – already by 0.8%. In subsequent years, GDP growth is expected to be 2.6% per year.

Amid the start of a special operation in Ukraine, the EU has already imposed eight packages of sanctions against Russia, targeting banks, defense companies, oil and gas producers and other sectors of the country’s economy, as well as hundreds of government officials, businessmen, journalists and others. Previous restrictions on Russia were adopted October 6th. The ninth package of sanctions is under approval.