European Commission Lowers Forecast for Decline in Russia’s 2022 GDP From 10.4% to 5.1%

 / Go to the mediabankView of the Kremlin / Go to the mediabankMOSCOW (Sputnik) – The European Commission has lowered its forecast for a decline in Russia’s 2022 GDP from 10.4% to 5.1%, according to the Autumn 2022 Economic Forecast released on Friday.At the same time, the European Commission now expects a 2.3% decline in Russia’s GDP in 2023 instead of a 1.5% increase predicted this spring.Despite this fact, Russia’s economy will start growing in 2024 after reaching 0.9%, the document read.For comparison, the Russian Ministry of Economic Development has predicted a 2.9% decline in the country’s GDP in 2022, a 0.8% fall in 2023, and a 2.6% increase in both 2024 and 2025.

Source