According to the head of the Accounts Chamber, next year it will also be rather big – more than 6%. As for GDP, it could fall by 12.4%
The head of the Accounts Chamber Alexei Kudrin, speaking at a meeting of the Council of Legislators of the Russian Federation, said that according to the results of the current year, inflation in Russia, according to the baseline forecast, will be 20.7%, writes TASS. According to Kudrin, next year it will also be rather big – more than 6%.
As for the fall of the economy, here Kudrin also gave disappointing figures: according to preliminary estimates of the Ministry of Economic Development of the Russian Federation, the country’s GDP in 2022 will fall by 8.8%, and according to a more conservative scenario – by 12.4%.
The Chairman of the Accounts Chamber also added that due to sanctions pressure, the economic situation in the Russian regions will develop in different ways. For some subjects, restrictive measures can hit quite hard, and some will hardly feel them.
Earlier it was reported that analysts at S&P Global Market Intelligence believe that it will take 10 years to restore the Russian economy to the level of 2021 after the introduction of sanctions restrictions on the country. Experts believe that this year the fall in GDP will be 11.1%, by 2023 it will slow down to 1.9%, and in another year the Russian economy will go into growth – by 1.6%. According to analysts, by 2026 Russia’s GDP will increase by 1.9%. According to the forecast, this year inflation in Russia will be 17.8%, in 2023 it will slow down to 10%, and by 2026 – to 4.6%.
At the International Monetary Fund considerthat the Russian Federation will leave the six largest economies in the world in terms of purchasing power parity by 2024. According to the forecast, Indonesia will replace Russia from sixth place. The International Monetary Fund expects that in 2024 the share of Russian GDP in the global GDP will decrease to 2.52%, while the share of Indonesia will increase to 2.61%.
