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Estimates of Russia’s economic growth in 2023 more optimistic than expected — minister

On Friday, Governor of the Bank of Russia Elvira Nabiullina said at a press conference after the bank’s Board meeting that the regulator expects that the dynamics of national GDP "will enter the positive area" in the middle of 2023

MOSCOW, February 11. /TASS/. A more optimistic prognosis of Russia’s economic growth in 2023 can be expected than previously predicted, Russian Economic Development Minister Maksim Reshetnikov said during his trip to Ufa on Saturday.

"Last year’s indicators of the economic <...> decline are significantly lower, I think that Rosstat’s (Russia’s Federal Service for State Statistics - TASS) final estimates are to come out yet, but I would not like to anticipate. The estimates that we are making for this year are more optimistic than we expected," the minister said.

On Friday, Governor of the Bank of Russia Elvira Nabiullina said at a press conference after the bank’s Board meeting that the regulator expects that the dynamics of national GDP "will enter the positive area" in the middle of 2023.