MOSCOW, December 19. /TASS/. The Economic Development Ministry has adjusted the estimate of the decline in GDP in Russia in January-October 2022 changing it from 2.1% to 1.9%, Economic Development Minister Maxim Reshetnikov said on Monday. He was speaking at a meeting of the Parliamentary Assembly of the Union of Belarus and Russia.

"We have an estimate based on the results of 10 months - it is a reduction (of GDP) by 1.9%," the minister said.

Earlier, speaking at the opening of the Russian-Myanmar Business Forum Reshetnikov stated that his ministry expects a reduction in the Russian GDP by 2.9% by the end of 2022. He added that inflation in Russia is slowing down - its annual level is now 12%, and the average three-month inflation is less than 3% per year.