Russian Finance Minister Anton Siluanov gave his forecast for the country’s GDP in 2023. According to the head of the Finance Ministry, the growth of the Russian economy can reach more than 2.5%.
“If last year the economy contracted 2.1%, this year we expect it to recover. <…> 2.5%, maybe even more,” Siluanov said in an interview with CGTN.
The minister’s opinion coincides with the expectations of the Bank of Russia, which in July predicted GDP growth for the country of between 1.5% and 2.5% by the end of 2023. As noted by the head of the Ministry of Finance, the Russian economy will be able to recover from the fall that occurred last year.
At the same time, inflation at the Ministry of Finance is projected to be around 6%, and in 2024 it will return to the Central Bank’s target of 4%.
“The Central Bank and I will take all necessary measures to ensure that inflation falls to the level of our planned values,” said the Finance Minister.
In mid-August, the Bank of Russia raised its key interest rate by 350bp in an extraordinary meeting. up to 12% per year. The agency explained the decision by the need to “limit the risks to price stability”: after the regulator’s announcement, the dollar exchange rate fell below 99 rubles.
Photo: ID1974 / Shutterstock
Author:
Ahmed Sadulayev
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
