The Russian central bank predicts that Russia's GDP growth rate will reach 0.5-2.0% in 2023, which is higher than the previous forecast.

[the central bank of Russia predicts that Russia's GDP growth rate will reach 0.5-2.0% in 2023, higher than the previous forecast] the Russian central bank released a monetary policy report on the 11th local time. The central bank expects Russia's gross domestic product (GDP) to grow by 4.2 per cent in the second quarter of 2023. The central bank of Russia pointed out that based on strong consumption and investment activity in the first quarter and persistently low unemployment rate, Russia's GDP growth rate is expected to reach 0.5-2.0% in 2023, higher than the central bank's previous forecast. In 2023, domestic demand will become the main driving force of Russian economic development.