Deputy Prime Minister Belousov: there are opportunities to demonstrate the growth of the Russian economy in 2023
MOSCOW, February 8 – RIA Novosti. First Deputy Prime Minister Andrey Belousov told reporters that there are opportunities for the Russian economy to enter positive territory by the end of 2023.
The First Deputy Prime Minister commented on the International Monetary Fund’s (IMF) forecast for the Russian economy for 2023. In its January forecast, the IMF improved its forecasts for the Russian economy. The Fund now expects Russia’s GDP to grow by 0.3% in 2023, while a 2.3% decline was projected in October last year. A growth of 2.1% is expected in 2024. The fund’s forecast also states that in 2022 Russia did not experience the expected economic downturn of 3.4%: the decline is now estimated at 2.2%.
Belousov said, “There are opportunities to go positive in 2023. This is a probabilistic story. In this sense, the IMF evaluates us better than we do.”
“I already said we would cover the 1 percent drop, because the first quarter of 2022 was very positive, there is still a statistical effect – the effect of a high floor, but then a lot of things will depend on intra-year dynamics. We have 2023. Right now probabilistic “I’m not ready to give estimates, but we will work to make it happen,” he said.
According to the current forecast of the Ministry of Economic Development, Russia’s GDP is expected to fall by 0.8% this year.
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