European Commission analysts have improved their forecasts for the performance of the Russian economy for the year 2023, based on the European Commission’s spring forecasts, which were released today, Monday.
Commission experts and analysts believe that the Russian economy will decline this year by 0.9%, after they had expected in the fall of last year that the Russian economy in 2023 would decline by 3.2%.
The European Commission also improved its forecast for Russian GDP growth for the year 2024 to a growth of 1.3%, after it had previously expected a growth of 0.9%.
Last week, the Russian Central Bank published a report in which it estimated the decline in the gross domestic product in Russia in the first quarter of 2023 by about 2.3%, at the same time the Bank of Russia (the Russian Central Bank) expects that the national economy will grow in the second quarter by 4.2% at once.
This article was originally published by RT.