EU revises forecast for Russia’s GDP to 10.4% fall in 2022

MOSCOW, May 16 (PRIME) -- The European Commission has revised a forecast for Russia’s gross domestic product (GDP) in 2022 to a 10.4% fall instead of a 3.9% rise, the authority said in a report on Monday.

Inflation in Russia may jump to 20.5% in 2022 and slow down to 10% in 2023, the commission said.

The commission also downgrade the 2022 GDP growth forecasts for the E.U. to 2.7% from 4%, for the U.S. to 2.9% from 3.8% and for China to 4.6% from 5.3%. The world’s combined GDP growth is now seen at 3.2% against 5.7%.

Inflation in the U.S. may amount to 7.3% in 2022 and in the E.U. to 6.1%.

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