Russian GDP could shrink 10-12% in 2022, hard to say how much in 2023 - Vyugin

KAZAN. April 25 (Interfax) - Russian GDP could fall 10%-12% in 2022, said Oleg Vyugin, a former Central Bank deputy governor and currently chairman of the Moscow Exchange supervisory board.

"In today's conditions, a GDP drop [in 2022] of around 10%-12%," he said at the Made in Kazan forum, when asked how much he thought the economy might shrink in 2022-2023.

Vyugin said it was very hard right now to say much the economy might fall next year.

"If economic confrontation and radical steps on the part of external trading partners increase further, then it could be that there will be another wave of inflation and another round of economic decline. It's very hard to evaluate," Vyugin said.