Russian finance minister forecasts economic growth of 2.5% in 2023

Russia’s economy is expected to grow by 2.5 percent or more in this year, while inflation is set to reach six percent, according to Finance Minister Anton Siluanov quoted on Saturday.

“If, last year, the economy shrank by 2.1 percent, then this year we expect it to recover by about 2.5 percent, maybe even more,” state news agencies quoted Siluanov as saying in an interview with China Global Television Network (CGTN).

However, the Bank of Russia projects that consumer prices will rise by 5-6.5 percent in 2023. In contrast, the unemployment rate has fallen to a decade-low of  three percent, Siluanov added.