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WEDNESDAY, JULY 23, 2025
Russia's economy will shrink by no more than 5% in 2022 -Kremlin aide

Global Economy

Reuters
19 May, 2022, 04:25 pm
Last modified: 19 May, 2022, 04:26 pm

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Russia's economy will shrink by no more than 5% in 2022 -Kremlin aide

Reuters
19 May, 2022, 04:25 pm
Last modified: 19 May, 2022, 04:26 pm
Photo: Collected
Photo: Collected

Russia's economy will contract by no more than 5% in 2022, presidential adviser Maxim Oreshkin said on Thursday, giving a much more optimistic forecast than the economy ministry.

The ministry said this week it expected gross domestic product (GDP) to contract by 7.8% in 2022. Previously, it had said the economy was on track to contract by more than 12%, in what would be the biggest GDP drop since the aftermath of the fall of the Soviet Union.

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