The Russian economy could shrink in 2022 by 8%

The Bank of Russia has published the results of a survey of analysts about the state of the Russian economy in 2022. The majority of respondents expect a significant reduction of the GDP. The downturn in the Russian economy may reach 8%. Thus, inflation will rise to 20%. In the next two years, economic growth will remain at 1% and 1.5%. Inflation may slow to 8% in the year, and in 2024 it will fall to 4.8%. The projected dollar for this year is 110 rubles. In 2023 and 2024 years it will rise to 118 and 120 rubles. The report of the Central Bank said that the survey participants noted the high uncertainty regarding the economic situation. It is difficult to predict. The range of opinions was rather wide. Cabinet of Ministers and the Central Bank to develop measures to reduce the depth of the fall of the economy and inflation to normal levels as soon as possible to return. A survey of the Central Bank was attended by 18 professional experts. It was held from 1 to 8 March.

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Arseny Kudrin

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