https://sputnikglobe.com/20230826/russian-economy-projected-to-grow-25-in-2023-1112912731.html
Russian Economy Projected to Grow 2.5% in 2023
Russian Economy Projected to Grow 2.5% in 2023
Sputnik International
The Russian economy is expected to grow by about 2.5% this year on the back of the government's efforts to mitigate the impact of Western sanctions, Finance Minister Anton Siluanov said
2023-08-26T16:46+0000
2023-08-26T16:46+0000
2023-08-26T16:46+0000
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Inflation in Russia is on track to hit 6% by the end of 2023, Siluanov estimated, but the Russian government expects it to return to the 4% target next year. The Bank of Russia forecasts consumer prices ending 5-6.5% higher this year. By contrast, the unemployment rate has shrunk to its decade low of 3%, the minister said.
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Russian Economy Projected to Grow 2.5% in 2023
MOSCOW (Sputnik) - The Russian economy is expected to grow by about 2.5% this year on the back of the government's efforts to mitigate the impact of Western sanctions, Finance Minister Anton Siluanov said in an interview out Saturday.
"We are making efforts to offset these consequences, the consequences of sanctions … They are bearing fruit. While the economy contracted 2.1% last year, we expect it to bounce back this year and grow 2.5% or even more," he told China Global Television Network (CGTN).
Inflation in Russia is on track to hit 6% by the end of 2023, Siluanov estimated, but the Russian government expects it to return to the 4% target next year. The Bank of Russia forecasts consumer prices ending 5-6.5% higher this year. By contrast, the unemployment rate has shrunk to its decade low of 3%, the minister said.
