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Russian finance minister expects 2023 GDP to grow by 2.5% or more - agencies

Published Aug 26, 2023 09:29AM ET
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© Reuters. Russian Finance Minister Anton Siluanov attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 16, 2022. REUTERS/Anton Vaganov/File photo
 
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MOSCOW (Reuters) - Russia's economy is set to grow by 2.5% or more in 2023, while inflation is expected to be around 6%, Finance Minister Anton Siluanov was quoted on Saturday as saying.

The economy ministry in April revised higher its 2023 GDP forecast to growth of 1.2% from a contraction of 0.8%, although it is expected to revise this again soon. The central bank forecasts GDP growth of 1.5%-2.5% this year.

"If, last year, the economy shrank by 2.1%, then this year we expect it to recover by about 2.5%, maybe even more," state news agencies quoted Siluanov as saying in an interview with the CGTV channel.

He forecast inflation would return to the target of 4% in 2024. The central bank has forecast it will fall to 5.0%-6.5% this year.

"We together with the Central Bank will be taking all measures to bring inflation down to our targeted level," Siluanov said.

Russian finance minister expects 2023 GDP to grow by 2.5% or more - agencies
 

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Comments (2)
Ray Johnson
Ray Johnson Sep 07, 2023 2:59PM ET
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Roll on Russia! 🚜🇷🇺💨
Aliaksei Charnyshou
Aliaksei Charnyshou Aug 28, 2023 10:29AM ET
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so funny
 
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