Page 41 - RusRPTDec23

Russia’s gross domestic product (GDP) will grow by 3–3.2% in 2023, and the growth rate will slow down to 0.5–1.3% in 2024, ACRA rating agency analysts said on November 28.
Fixed capital investment will increase by 4.6–6.1% in 2023, and by 2.5–3.7% in 2024. Unemployment is expected to remain flat at 3.1–3.2% in the entire projecting period. Inflation will stand at 7–7.5% in 2023, and will decelerate to 5.2–5.8% in 2024.
The European Commission has improved its forecast for Russia’s gross domestic product (GDP) in 2023 to a 2% increase from a 0.9% fall projected in May, the authority said on November 15. Russia’s GDP growth forecast for 2024 was increased to 1.6% from 1.3% expected earlier. The European Commission projects Russia’s inflation to amount to 6.5% in 2023 and to 3.5% in 2024.
The organisation for Economic Co-operation and Development (OECD) has improved its outlook on the growth of Russia’s gross domestic product (GDP) in 2024 to 1.1% from 0.9%, the organisation said in a November report published on November 29. In 2025, Russia’s GDP should increase by 1%. As for inflation, the organisation expects it to amount to 7.2% in 2024 and to slow down to 5.3% in 2025. At the same time, the OECD’s outlook on the combined global GDP increase was worsened to 2.9% from 3% in 2023, and then it expects the GDP expansion to slow down to 2.7% in 2024 and to speed up to 3% in 2025.
The official CBR macroeconomic forecasts are here.
41 RUSSIA Country Report December 2023 www.intellinews.com