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Russian economy to grow by 2.8% by end of 2023 — Finance Minister

2% decrease in growth rates happened last year, Anton Siluanov said

MOSCOW, November 4. /TASS/. After falling by roughly 2% last year, the Russian economy will increase by 2.8% in 2023, Russian Finance Minister Anton Siluanov said.

"We expect economic growth of around 2.8-3% this year. We have fully compensated for the 2% decrease in growth rates that happened last year," he stated.

Siluanov also remarked that the government's and the financial bloc's activity is all geared at increasing the population's quality of life.

According to the Bank of Russia's estimations, Russia's GDP would increase at a rate of 2.2-2.7% this year in the base scenario. According to the Russian socio-economic development prediction released by the Ministry of Economic Development, Russia's GDP growth in 2023 is predicted to be 2.8%.