EU improves Russia’s GDP forecast to 0.9% fall in 2023

MOSCOW, May 15 (PRIME) -- The European Commission has improved its forecast for Russia’s gross domestic product (GDP) fall to 0.9% from a fall of 3.2% projected in the autumn of 2022, the authority said on Monday.

Russia’s GDP growth forecast for 2024 was increased to 1.3% from 0.9% expected earlier.

The European Commission projects Russia’s inflation to amount to 6.4% in 2023 and to 4.6% in 2024. Unemployment is seen to stand at 3.7% in 2023 and at 4% in 2024.

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