The Central Bank, following the Ministry of Economics, improved its macroeconomic forecast
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The Bank of Russia has improved its forecast for inflation and the rate of recovery of the Russian economy in 2023. The regulator now expects GDP growth of 0.5–2%, although back in February it expected a decline. The upper estimate of the range is even more positive than that of the Ministry of Economic Development – they forecast GDP growth at the end of the year by 1.2%. Presidential Aide Maxim Oreshkin, speaking at the educational marathon “Knowledge. First”, estimated economic growth in 2023 at 1-2%.
The Bank of Russia also expects inflation to be lower than expected in February – at the level of 4.5–6.5% against 5–7%. The Ministry of Economy predicts price growth at the level of 5.3%.
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