Page 26 - RusRPTJan22

Favorable external conditions (high prices and the global demand recovery) for commodities will support mining and quarrying going forward, while the OPEC+ output restrictions are gradually being removed, which allows for production to be increased. However, manufacturing growth will likely moderate as the base effect from 2020 fades away. As a result, we expect industrial output growth to come in at around 5.5% this year but to slow to 3% in 2022.
26 RUSSIA Country Report January 2022 www.intellinews.com