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Post: Ministry of Economic Development to improve forecast of baseline scenario conditions for three-year period in spring

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Maxim Reshetnikov, Head of the Ministry of Economic Development of the Russian Federation. archive photo

In March-April, MED will improve the forecast of baseline conditions for the three-year period

ASHGABAT, January 19 – RIA Novosti. The head of the ministry, Maxim Reshetnikov, said that the Russian Ministry of Economic Development will clarify the forecast of baseline scenario conditions for the three-year period in the spring.

In March-April, we review the basic conditions of the scenario that we have determined this year and that we have given a three-year period in accordance with the regulations.”

He added that the estimate will be reviewed as a whole. Asked if the agency would improve its GDP forecast, Reshetnikov replied, “If you notice, Rosstat significantly recalculated at the end of December (GDP forecast for 2021). This will affect the improvement of many parameters.”

In December, Rosstat revised data on the growth of the Russian economy for 2021 from 4.7% to 5.6%. According to the official forecast of the Ministry of Economic Development, Russia’s GDP decreased by 2.9% in 2022 and the decline is expected to slow to 0.8% in 2023, while annual growth is expected to be 2.6% in 2024-2025. .

According to the Russian Ministry of Economic Development, annual GDP in November fell to 4% year-on-year after 4.5% in October, down 2.1% for 11 months of 2022.

Source: Ria

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