S&P says expects Russia’s GDP to fall by 8.5% in 2022

MOSCOW, Mar 31 (PRIME) -- International rating agency S&P Global Ratings has downgraded its forecast of Russia’s gross domestic product (GDP) in 2022 to a fall of 8.5% from a 2.7% increase, the agency said in a statement on Thursday.

In 2023, Russia’s GDP should rise by 0.3% instead of the previously expected 2% growth, and in 2024 it should increase by 1%, down from 1.1% expected earlier. The GDP should also increase by 1.3% in 2025.

The Federal State Statistics Service said earlier that Russia’s GDP grew by 4.7% in 2021, while S&P sees the growth at 5.5%.

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