Putin: in 2023 the global economy will continue to slow down
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In 2023, the global economy will continue to slow down, despite this, Russia’s GDP may grow by 1-2%. This was stated by Russian President Vladimir Putin in greetings participants, organizers and guests of the XXVI St. Petersburg International Economic Forum.
“According to experts, in 2023 the global economy will continue to slow down, and Russia’s GDP may grow by 1-2%,” he said.
The head of state added that at the same time it is important to “use the opportunities that are opening up” and work to achieve the technological and financial sovereignty of the country. In addition, according to him, one should focus on building “optimal cooperation and logistics”, improving infrastructure and reducing inequality and poverty.
Putin called the stimulation of the labor market and the “adjustment” of the system of training and retraining of personnel as priority areas.
According to World Bank forecasts, the global economy slow down in 2023, to 2.1%, “against the backdrop of continued tightening of monetary policy aimed at curbing high inflation.” At the same time, the organization improved its forecast for global GDP growth from 1.7% in January to 2.1%. In 2022, the growth of the global economy amounted to 3.1%, recalled the World Bank.
In April, the Minister of Economic Development of the Russian Federation Maxim Reshetnikov informedthat the agency improved the forecast for the Russian economy in 2023 from a decline of 0.8% (in the September forecast) to growth of 1.2%. Minister of Finance Anton Siluanov earlier allowed growth of Russia’s GDP by 1% at the end of the year.
The forecast for the dynamics of Russian GDP was also improved by the Bank of Russia. The regulator now expects the economy to grow by 0.5-2% in 2023, although back in February it expected a decline. Economists interviewed by the Central Bank at the end of May predict growth of the Russian economy by 0.8% at the end of the year.
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