What factors have improved the GDP forecast this year
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At the end of the year, GDP is forecast to decline by about 2.5%, Vladimir Putin said at a meeting of the Council for Strategic Development and National Projects. According to him, “at the moment when the collective West fell upon us with an economic war,” many experts predicted a decline in the Russian economy to 20% in 2022. At the same time, the situation was stabilized and this calculation did not materialize, the president added.
“I recently said [ВВП снизится на] by 2.9% (official forecast of the Ministry of Economic Development – Vedomosti), but the latest forecasts indicate that it will be less – 2.5%,” the president said.
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