Russian economy may slump 2-3 pct this year
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E-mail Xinhua, August 30, 2022
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Russia's gross domestic product (GDP) is expected to decline "less than 3 percent, somewhere slightly above 2 percent" in 2022, the country's First Deputy Prime Minister Andrei Belousov said Monday.
Russia will be able to limit the GDP decrease to 0.6-0.8 percent next year, Belousov said at a government meeting on improving the stability of the Russian economy under sanctions.
"This creates very good conditions for the growth of people's real incomes and budget revenues," he said.
Previously, the Russian Ministry of Economic Development predicted a tumble in GDP by 4.2 percent this year and 2.7 percent in 2023.
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