Mishustin: economic recession amounted to 2% of GDP, negative forecasts did not come true

The government held a final meeting at which the preliminary results of 2022 were considered. In November, unemployment in Russia hit 3.7%, the lowest level on record, according to the government. Prime Minister Mikhail Mishustin also announced a 2% decline in Russia’s GDP. We can say that the negative forecasts of Western analysts did not come true, the head of government said.

Mr. Mishustin noted that in November, year-on-year growth was observed in construction and agriculture, the volume of loans increased by more than 13%, and a stable situation remained on the labor market.

“In a short time, measures were taken that protected the domestic market of Russia from external pressure, supported the development of infrastructure in the regions, and preserved the production facilities operating today,” the prime minister concluded.

On the labor market in Russia, there is a shortage of personnel, both highly qualified and linear. By data According to FinExpertiza analysts, the number of layoffs and hirings reached a record level this year, which indicates the turbulent state of the labor market.

Read more about the situation on the labor market in Russia – in the material “Kommersant” “Non-Working Option”.

Andrey Sapozhnikov