Page 14 - Russia OUTLOOK 2022

forecast for 2023 decreased by 0.2 p.p.
The pandemic knocked the economy back, but did not do significant damage. The scale of demographic damage only remains to be seen in the following years as more evidence emerges.
As of the end of 2021, the consensus expects Russia to gradually underperform the global economic growth rate in the coming quarters, but by a relatively small margin of 1-2 percentage points.
Putin’s goal of achieving faster growth than the global average (so Russia’s economy does not fall further behind the rest of the world’s) is going to be missed.
"The results of the past 10-15 years give us reason to believe that we will continue to develop at the rates that we need. In any case, we would very much like the growth rates of the Russian economy to be slightly higher than the global average," Putin said at VTB’s annual Russia Calling! conference said. "This year it will be 4.7%. I don’t know if we will be able to maintain these rates in 2022, there are different opinions on the matter. But I would very much like them to be higher than the global rates. I am sure we can do it. But we will see."
According to him, in order to support economic growth, the Russian authorities
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