MOSCOW, March 23 The Ministry of Economic Development expects a visible growth of the Russian economy in 2023 — above 0.1-0.2%, but it is premature to announce exact figures, since work on the forecast continues, the head of the department, Maxim Reshetnikov, told reporters.
«Growth continues. Now we are preparing scenario conditions for the development of the economy for the next three years, which will form the basis for the formation of the budget. We confirm our expectations for this year for a positive, and visible growth in the main indicators associated with economic development, investment, and improved forecasts for household incomes» — said Reshetnikov.
When asked to clarify how significant the growth of the Russian economy is expected by the ministry in 2023, Reshetnikov said that «the calibration of the forecast is still ongoing, but not 0.1% or 0.2%, but higher (growth is expected — ed.)».
«We are finishing the compilation of this forecast,» the minister added.
The Ministry of Economic Development is expected to submit an updated forecast for 2023 and scenario conditions for the upcoming three-year period in April.
The current forecast assumes a decline in the economy by 0.8%, but earlier Reshetnikov said that the ministry expects GDP growth and investment in Russia in 2023, will improve the forecast for real incomes of the population.
In February, First Deputy Prime Minister Andrey Belousov said that there are opportunities for the Russian economy to enter the positive zone by the end of 2023. The Bank of Russia also improved its forecast in February and allows changes in GDP dynamics in the range from a decline by 1% to growth by 1% instead of a decline by 1-4%.
Russia's GDP in 2022, according to the first estimate Rosstat, decreased by 2.1%. Investments in fixed capital showed growth at all — by 4.6%. Such results against the background of unprecedented Western sanctions turned out to be much better than the initial expectations of both officials and the market.