Report: Russia’s GDP should contract by 0.6% in 2023

PETROPAVLOVSK-KAMCHATSKY, Feb 6 (PRIME) -- Russia’s gross domestic product (GDP) may contract by 0.6% in 2023, Finance Minister Anton Siluanov said on Monday in a broadcast of television channel Channel One.

“The economy is adapting in spite of its contraction, and we expect contraction of about 0.6% of GDP. … The indicators may turn out to be better if the forecast becomes more optimistic,” he said.

The Economic Development Ministry expects the GDP to fall by 0.8% in 2023. It will publish updated macroeconomic forecasts for 2023 and the following years in March–April.

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