The World Bank drew its forecasts for the performance of the Russian economy for the years 2023 and 2024, and the bank expects the Russian economy to grow next year by 1.2%, after a decline of 0.2% in the current year.
According to the International Organization’s report on global economic prospects, Russia’s gross domestic product is expected to decline in real terms in 2023 by 0.2%, and in 2024 to grow by 1.2%.
For 2025, the World Bank expects Russia’s GDP to grow by 0.8%.
The World Bank’s expectations for the dynamism of the Russian economy are in line with the estimates it revealed in April 2023, at which time the bank published a report on the economic development prospects for the countries of Eastern Europe and Central Asia.
For its part, the Russian Ministry of Economic Development expects that the country’s GDP growth this year will reach 1.2%, while the Bank of Russia (the Russian Central Bank) expects economic growth in the range of 0.5% – 2%.
This article was originally published by RT.