Kudrin sees Russia's GDP increase below 3% in 2022

MOSCOW, Jan 13 (PRIME) – Russia’s gross domestic product (GDP) will grow by less than 3% in 2022, Audit Chamber head Alexei Kudrin said on the sidelines of the Gaidar Forum on Thursday. 

"We said that 3% is a good target, but a bit lower will most probably be more realistic," Kudrin said.

He added that the inflation target of 4% will most likely not be attained either in 2022.

According to Kudrin, the Russian economy is not doomed to stagnation. "Only in the 11 years when I was the prime minister, the GDP soared by 67%, while over the last 13 years, it did 13%, but this means that we have potential. With structural reforms, we could have a much higher growth, the same as global growth, this is the goal set by the president," he said.

Kudrin also said that the U.S. sanctions are a game and a bit of pressure, because Russia has no intent of a military action any time soon.

There is no need to distribute financial aid because of the new COVID strain omicron so far, he said, adding that the variation was unlikely to change the economic trends dramatically.

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