15 Jun 2023 12:43

Russian GDP to grow more than current forecast of 1.2% in 2023 - Reshetnikov

ST. PETERSBURG. June 15 (Interfax) - The Russian economy will grow more than the Economic Development Ministry's current estimates, Economic Development Minister Maxim Reshetnikov said in an interview with the Rossiya 24 TV channel.

"It [GDP growth rates] will, of course, be higher than our estimates, this is already clear. I won't give a figure, but it looks like it will be higher," Reshetnikov said.

The Econ Ministry's official forecast in April is for Russian GDP to grow 1.2% in 2022.

The consensus forecast of analysts polled by Interfax in early June is a more conservative 0.7%.

The Central Bank in April improved its forecast for GDP in 2023 to of 0.5%-2.0% instead of the -1% to +1% published in February.