Reshetnikov called a Bloomberg article about a recession in Russia a “working horror story”

The head of the Ministry of Economy Maxim Reshetnikov commented on the Bloomberg publication, which says that an internal report on a long recession has been prepared for the Russian government. He said that the material reflects analytical calculations showing how the country’s economy will develop without resisting sanctions. However, Mr. Reshetnikov claims that the scenario described in the article is a “working horror story”.

“These scenarios should be treated like working horror stories. These are analytical calculations that we used just to calculate what will happen if we don’t resist, we don’t do anything, ”the head of the Ministry of Economy told reporters at the Eastern Economic Forum (quote from TASS).

According to the latest estimate of the ministry, Russia’s GDP in 2022 will decrease by 2.9%. Initially, the forecast of the Ministry of Economy included a decline of 7.8%, after which the forecast was improved to 4.2%. Maxim Reshetnikov assures that from 2024 the Russian economy will go into a “sustainable plus”.

Bloomberg wrotethat, according to a report prepared for the government, Russia could face a longer and deeper economic recession due to sanctions. Two of the three scenarios presented in the report show that the economic downturn in Russia will accelerate in 2023, and the economy will return to pre-military levels in Ukraine only at the end of the decade or later. In addition, according to the authors of the document, up to 200,000 IT specialists may leave the country by 2025. By data Rosstat, since the beginning of the year, the migration outflow amounted to 96 thousand people.

Read about the state of the Russian economy in the material “Kommersant” “Unhappy Hills”.