The Organization for Economic Co-operation and Development (OECD) in a fresh report published on Monday improved its interim forecast for Russia's economic growth in 2022 compared with the June interim report but downgraded it for 2023
MOSCOW (Pakistan Point News / Sputnik - 26th September, 2022) The Organization for Economic Co-operation and Development (OECD) in a fresh report published on Monday improved its interim forecast for Russia's economic growth in 2022 compared with the June interim report but downgraded it for 2023.
The OECD expects Russia's GDP to decline by 5.5% in 2022 and by 4.5% in 2023.
In its June outlook, the OECD said that Russia's GDP would decline by 10% in 2022 and by 4.1% in 2023.
The OECD projects that inflation in Russia will amount to 13.9% in 2022 and 6.8% in 2023, a decline of 2.3 points and 6.5 points, respectively, compared with the June report.
