Experts from the European Commission (EC) have adjusted expectations for Russia's GDP in 2023 for the better. The relevant data are contained in the EC's spring forecast.
In particular, according to analysts, the Russian economy at the end of the current year will decrease by 0.9% against 3.2% forecasted in autumn 2022.
Also, the EC improved its forecast for Russian GDP growth in 2024 to 1.3% instead of the 0.9% forecast earlier.
Recall also that the Bank of Russia last week released a report in which GDP decline in the first quarter of 2023 was estimated at 2.3%. At the same time, in the second quarter, the Central Bank expects the economy to grow, at once by 4.2%.
Also, according to estimates of analysts of the Ministry of Economic Development, during the first quarter the country's GDP decreased by 2.2%. Rosstat plans to publish its preliminary estimate on May 17.