Russian GDP growth of 3% expected in 2023 - minister

BREST. Nov 10 (Interfax) - Russian GDP growth in 2023 is expected to be 3%, which is higher than previous forecasts, Russian Economic Development Minister Maxim Reshetnikov said at a joint meeting of the boards of the Russian Economic Development Ministry and the Belarusian Economy Ministry in Brest.

"This year we expect the Russian economy to grow by 3%. These are very good figures, and better than our August estimates [2.8%]," he said.

The Economic Development Ministry has estimated that Russia's GDP grew 2.8% in January-September 2023, with a rise of 5.2% in annual terms in September.

The ministry in September raised its forecast for growth in the country's GDP to 2.8% in 2023. The Central Bank on October 27 raised its forecast for growth in the country's GDP to 2.2%-2.7% in 2023 from its previous outlook of 1.5%-2.5%.

Analysts told Interfax in a consensus forecast at the beginning of November that they thought the economy would grow 2.7% in 2023.