Russia’s GDP growth may slightly exceed the official forecast of 1.2 percent if the current trends are preserved. This was announced by the head of the Ministry of Economy of the Russian Federation, Maxim Reshetnikov at the International Economic Forum “Russia – Islamic World: Kazanforum”, reports “Kommersant.”
“At the moment, we expect an increase in the economy by 1.2 percent. But here the data of the first quarter indicates that if the trends are saved, then, probably, a little more,” Reshetnikov said. The Minister recalled the statistics of Rosstat, according to which the reduction in GDP in the first quarter amounted to 1.9 percent. These data turned out to be better than the assessments of the Ministry of Economics (2.1 percent) and the Central Bank (2.3 percent).
“It turned out to be significantly lower than the assessments of economic departments, including our ministry,” Maxim Reshetnikov commented on the assessment of Rosstat. The Bank of Russia in the second quarter of the current year predicts the growth of the GDP of the Russian Federation by 4.2 percent in annual terms. In the fourth quarter of 2022, GDP decreased by 2.7 percent in annual terms, in general, over 2022, GDP decreased by 2.1 percent.
The official forecast of the Ministry of Economy for GDP GDP in 2023 is 1.2 percent.
According to the Ministry of the beginning of May, the reduction in GDP in the first quarter of 2023 amounted to 2.2 percent in annual terms, the decline in March decreased to 1.1 percent in annual terms. According to the forecast of the Central Bank, domestic demand will affect the development of the economy in 2023.
In the forum, whose global information partner is the Anadolu agency, more than 15 thousand people from 84 countries of the world take part. It is planned to conduct more than 150 business sessions.