-10.5 C
Moscow
Tuesday, December 6, 2022
spot_img

SANCTIONS CONTEXT

CURRENCY EXCHANGE RATES

RUB - Russian Ruble
EUR
65.9017
USD
62.8650

LATEST MARKET STUDY

spot_img

The Ministry of Economic Development published new forecasts for Russia’s economy in 2022-2025

The Ministry of Economic Development predicts a fall in Russia’s GDP due to the imposed sanctions by 8.8% in 2022 in the base case scenario, expecting a positive trend of 1.3% next year already. In the years 2024 and 2025, the ministry expects growth of the Russian economy by 4.6% and 2.8%, respectively. Under the conservative forecast scenario, the scale of the crisis is seen deeper: a decline in Russia’s GDP by 12.4% in 2022, and by 1.1% in 2023.

At the end of 2022, the ministry tentatively predicts inflation above 20% in the base case scenario, expecting it to decrease to 6.2% at the end of 2023. At the same time, the target of 4%, according to the estimation reported, is planned to be reached as early as 2024.

Related Articles

Expectations for GDP and income of Russians improved by the Ministry of Economic Development

The Ministry of Economy has improved most of the forecast indicators for 2022. The recession of Russia's economy is now expected at 4.2% (against...

Forecast for a decline in Russia’s GDP improved by the IMF

The International Monetary Fund has improved its forecast for a decline in Russia's GDP in 2022, a fall of 6% is expected. Russia is...

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%....