Russia expects GDP contraction of less than 3% in 2022

Russian GDP will contract by less than 3% this year. /Photo taken on May 27, 2022/REUTERS/Evgenia Novozhenina


(Reuters) – Russia’s GDP will contract by less than 3% this year, First Vice President Andrei Belousov said on Monday, as a strong job market helps to cushion the fallout from what Moscow presents as a ” special military operation” in Ukraine.

Andrei Beloussov said Russia’s gross domestic product will shrink by “just over 2%” this year. This decline will be followed by a decline of “no more than 1%” in 2023, he said.

Economists predicted a 15% fall in GDP this year, due in particular to Western sanctions imposed after the invasion of Ukraine.

(Reportage Reuters; French version Alizée Degorce, editing by Sophie Louet)

Source: Challenges en temps réel : accueil by

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