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3.0 Macro Economy
3.1 Macroeconomic overview
The central bank expects Russia’s gross domestic product (GDP) to fall by 3–3.5% in 2022, Deputy Chairman Alexei Zabotkin told reporters on November 22.
Earlier in November, First Deputy Prime Minister Andrei Belousov said that the GDP contraction would amount to 2.8–3% in 2022 and no more than 1% in 2023.
“Our forecast is a 3–3.5% (contraction). I think that the economic uncertainty is still high in the fourth quarter. We are probably more conservative than Andrei Removich (Belousov),” Zabotkin said.
33 RUSSIA Country Report December 2022 www.intellinews.com
