Prime Minister Mishustin acknowledged that the decline in Russia’s GDP will not exceed 3 percent by the end of the year.
MOSCOW, November 23 – RIA Novosti. Prime Minister Mikhail Mishustin said at a meeting on economic issues that some projections for Russia’s GDP decline this year are very pessimistic.
In other words, the data is now much better than the forecasts made in the first half of the year,” he said.
“Some experts have predicted almost double-digit numbers for a possible decline. It is now clear that the pessimists were wrong,” Mishustin said.
The Prime Minister added that several organizations, including the IMF, World Bank and the Organization for Economic Cooperation and Development, have improved their forecasts for the dynamics of the Russian economy.
According to preliminary estimates by Russian authorities, the country could reach “maybe below three percent” by the end of the year.
Mishustin urged extreme caution when making forecasts to analyze all scenarios, including the risks of strengthening sanctions despite the stability in the economy.
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