Russia's Economic Development Ministry expects growth in GDP, investments in 2023 - minister

MOSCOW. March 16 (Interfax) - Russia's economy is recovering faster than expected, and the Economic Development Ministry forecasts growth in the country's GDP and investments in fixed assets in 2023, while the forecast will be updated in April, Economic Development Minister Maxim Reshetnikov said at the convention of the Russian Union of Industrialists and Entrepreneurs (RSPP).

"It was clear even at the end of the year that the economy was recovering faster than expected. Both the results of 2022 [GDP contracted 2.1%] and the operational data for January-February confirm the trend," Reshetnikov said.

"We are currently working on the forecast, and we will submit it to the government in April. It is already clear that growth will be positive in both GDP and investments this year," Reshetnikov said.

Reshetnikov said that the forecast for growth households' real incomes in 2023 would also be raised, and unemployment should remain low.