8 Dec 2022 15:27

Russian GDP could fall 2.9%, consumer prices rise 12.3% in 2022 -Central Bank survey

MOSCOW. Dec 8 (Interfax) - Russia could have consumer price inflation of 12.3% and GDP could fall 2.9%, analysts said in the latest monthly survey conducted by the Central Bank from November 30-December 6.

The analysts said in the previous survey that GDP might fall 3.5% and inflation might be 12.5% in 2022.

The government also expects GDP to fall 2.9% in 2022. The Central Bank's own forecast is for the economy to shrink 3.0%-3.5%.

The analysts now expect GDP to fall 2.4% in 2023, compared with their previous forecast of 2.1%. The government thinks the economy will fall just 0.8% and the Central Bank's own forecast is for decline of 1-4%.

The analysts said inflation might be 5.8% in 2023, an improvement on their previous forecast of 6.0%.