Belousov called Russia an "island of stability" with a decline in GDP within 3%

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Belousov called Russia an "island of stability" with a decline in GDP within 3%
Belousov called Russia an "island of stability" with a decline in GDP within 3%
18 November, 17:55EconomyPhoto: srb62.ru
The fall of the Russian economy this year will be about 2.8-3%, Russian First Deputy Prime Minister Andrey Belousov predicts. According to him, the Russian economy has already passed the bottom of the recession in terms of consumer demand and is approaching it in terms of investment.

Next year, according to the forecasts of the First Deputy Prime Minister, the economic decline will be about 1%.

“This year we are quite steadily going somewhere around minus 3%, minus 2.9%, minus 2.8% approximately. Next year, we believe we can meet a 1% decline,” Andrey Belousov said. His words lead TASS .

He added that the negative growth rates were associated mainly with the events of the second and, to a lesser extent, the third quarters.

According to Andrei Belousov, Russia remains an island of stability amid high uncertainty around the world. Despite the sanctions of Western countries, it is much easier to predict the further development of events in Russia compared to the situation that is developing in the world today, Kommersant writes .

The publication recalls that in 2008, at the World Economic Forum in Davos, Finance Minister Alexei Kudrin called Russia an "island of stability" . Then he noted that the consequences of the economic crisis for the country were not so significant.

Recall that earlier the Central Bank predicted that the country's GDP this year will fall by 3-3.5%, but will return to growth in the second half of 2023. Asked if the Russian economy has bottomed out or is expected to fall further, Bank of Russia Governor Elvira Nabiullina said she "doesn't like to look for a bottom."

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