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Russian economy to demonstrate quarterly growth in late 2022, says minister

Maksim Reshetnikov also noted the recovery of consumer demand and a high level of investment activity in the first half of this year

Russian Economic Development Minister Maksim Reshetnikov Anton Novoderezhkin/TASS

Russian Economic Development Minister Maksim Reshetnikov

© Anton Novoderezhkin/TASS

BAKU, October 27. /TASS/. Russia’s economy will demonstrate growth in quarterly terms as early as at the end of 2022, Economic Development Minister Maksim Reshetnikov said at the 15th Verona Eurasian Economic Forum in Baku on Thursday.

"Indeed, the situation in the economy has stabilized, with international economic ties, trade ties reestablishing actively, the economy adjusting structurally," he said. "Despite the fact that next year we expect certain negative dynamics, which is related to the high base of the first quarter of this year, in quarterly terms economic growth is expected as early as at the end of this year," the minister added.

He also noted the recovery of consumer demand and a high level of investment activity in the first half of this year.

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