The Ministry of Economic Development has improved the forecast for economic development

The Ministry of Economic Development has improved the forecast for economic development



The Ministry of Economic Development of Russia predicts that the economic recession for the current year will be 2.9%, said the head of the department Maxim Reshetnikov. In the August forecast, a deeper decline in GDP of 4.2% was expected. The economy is expected to return to growth in 2024.

The inflation forecast has been lowered to 12.4% from 13.4% in August. The forecast for a decline in real money incomes of the population in 2022 has been improved to 2% from 2.8%. Unemployment is expected to be at 4.5% at the end of the year and will fall to 4.1% by 2025.



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