MOSCOW, November 23. /TASS/. According to preliminary estimates, Russia’s GDP may drop by less than 3% by the year-end, Prime Minister Mikhail Mishustin said on Wednesday.

"A certain slowdown of dynamics was inevitable in the evolved situation. The economy needs time for transformation. Gross product data are now much better, if we compare them with forecasts made in the first six months of the year," the Prime Minister said.

Certain experts predicted almost double-digit figures for the possible decline, Mishustin noted. "It has already become obvious that pessimists made a mistake," the Prime Minister said. "According to our preliminary forecasts, we may well reach the figure of probably less than 3% [of the GDP decline - TASS]," he added.