The decline of Russia's GDP will be about 2.7% by the end of the year, Finance Minister Anton Siluanov said on the air at the Rossiya 24 TV channel on Thursday. He added that in 2023 the decline of GDP may continue.
"The latest data show that GDP for the current year will decline to about 2.7%, it is still possible that the decline will continue next year, according to our forecasts. Although we will do everything to make it possible to reach positive trends next year," he said.
On Wednesday, Prime Minister Mikhail Mishustin said at a government meeting that the negative forecasts of Western analysts about the economic situation in Russia did not come true. In particular, the country's GDP for 11 months fell by only 2% compared to the same period last year despite all the sanctions, he said.
