UNITED NATIONS, May 16. /TASS/. The contraction of the Russian economy in 2023 will be insignificant, and in 2024 it will return to growth. This is according to the UN report "World economic situation and prospects as of mid-2023" released on Tuesday.

"The Russian economy is projected to marginally shrink in 2023, before returning to a low medium-term growth path in 2024," the report says.

The authors of the report do not provide specific indicators, referring to the difficulty of forecasting in the context of the ongoing conflict in Ukraine.

According to the report of the Bank of Russia published in May, a higher level of consumer and investment activity in January-March of this year, as well as unemployment remaining close to the minimum levels, allow it to improve the forecast for GDP growth rates in 2023 to 0.5-2.0%.