The head of the Ministry of Economic Development Reshetnikov allowed GDP growth above 0.1-0.2% in 2023

The head of the Ministry of Economic Development Reshetnikov allowed GDP growth above 0.1-0.2% in 2023


The head of the Ministry of Economic Development of Russia, Maxim Reshetnikov, said that the department expects a visible increase in the main indicators related to economic development this year. According to him, the ministry predicts Russia's GDP growth in 2023 to be higher than 0.1% or 0.2%.

“Now we are preparing scenario conditions for the development of the economy for the next three years, which will form the basis for the formation of the budget. We confirm our positive expectations for this year. The expected visible growth of the main indicators associated with economic development, investment, and incomes of the population,” said Mr. Reshetnikov (quoted by Interfax).

The minister did not cite the growth rates of Russia's GDP expected by the department this year, specifying that the Ministry of Economic Development is still continuing to calibrate the forecast.

According to the official forecasts of the Ministry of Economic Development of September 2022, the GDP of the Russian Federation in 2023 will decrease by 0.8%, in 2024 it will grow by 2.6%. The International Monetary Fund expects the Russian economy to grow by 0.3% this year. Organization for Economic Cooperation and Development (OECD) expectsthat Russia's GDP in 2023 will decrease by 2.5%. The Bank of Russia expects the dynamics of GDP this year from minus 1% to plus 1%.

Erdni Kagaltynov



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