Economy Ministry Improved Estimate Of Russian GDP Decline In 2022 To 4.2% - Source

MOSCOW (Pakistan Point News / Sputnik - 17th August, 2022) Russia's Economic Development Ministry has improved its estimate of the decline in the Russian economy for the current year to 4.2 percent from 7.8 percent, and worsened the estimate for next year to 2.7 percent from 0.7 percent, a Federal official familiar with the discussion of the ministry's draft forecast for 2023-2025 told reporters.

"Estimates for this year have been significantly improved... Now the estimate is minus 4.2 percent of GDP this year," the official said.

According to the draft forecast, GDP will grow 3.7 percent in 2024 and 2.6 percent in 2025.