Russia’s GDP decline

According to Iran Economist, quoted by Economic, the head of the Bank of Russia (CBR), Elvira Nabiullina, stated that the institution predicts that Russia’s gross domestic product (GDP) will decrease by three percent in 2022.

Nabiullina told reporters in a press conference: Of course, the decline depends on how the economic dynamics will be in November and December. If it develops well, GDP may drop to less than three percent this year.

On how GDP will perform in 2023, Nabiullina said that we will revise our forecast in February to take into account factors that are happening now.