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Analysts expect Russian GDP to fell 9.2% in 2022 — Central Bank

The dollar rate is expected to be 85 rubles per dollar in average in 2022

MOSCOW, April 21. /TASS/. Analysts polled by the Bank of Russia downgraded their GDP and inflation outlooks for Russia in 2022, according to results of the regulator’s survey in April.

The median inflation forecast for 2022 gained 2 percentage points (pp) to 22%. The inflation forecast for 2023 was raised by 0.4 pp to 7.6% and by 0.2 pp to 5% for 2024. Analysts downgraded GDP decrease forecast to 9.2% in 2022, and revise GDP growth to 0% in 2023.

According to their estimates, the key rate will decline by 4.4 pp to 14.5% in 2022, by 3.7 pp to 10.4% in 2023, and by 0.3 pp to 7.5% in 2024.

The dollar rate is expected to be 85 rubles per dollar in average in 2022, 90 rubles in 2023 and 96 rubles in 2024.