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Wednesday, December 7, 2022
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Forecast for a decline in GDP for 2022 improved according to Bank of Russia

Analysts polled by the Central Bank of Russia improved the forecast for a decline in GDP for 2022, from minus 9.2% to minus 7.5%. In 2023, as before, zero GDP growth is predicted.

The median inflation forecast for 2022 decreased by 5 percentage points to 17%, for 2023 it decreased by 0.9 points to 6.7%, and for 2024 remained unchanged at 5%.

The growth rate of nominal wages in the country, according to the forecast, will remain below the level of inflation. In 2022, a grow by 10% is expected, while the forecast for 2023 and 2024 was reduced by 0.4 points to 7.0% and by 0.3 points to 6.7%, respectively.

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