By Victor Duda
Russia's GDP decreased for the first time in more than a year, falling by 4. 7% in annual calculation, according to the average forecast of 12 analysts interviewed by Bloomberg. "We expect a reduction in the fourth quarter through a softer monetary policy that supports demand. However, in 2023, the economy will lose another 2%, since the European energy ban on energy will reduce exports," Bloomberg experts said.
It is noted that the sanctions on the Russian Federation violated trade and paralyzed industries such as car production, while consumer expenses stopped. Although the decline of the economy is still less sharp than the experts initially predicted, the decline will deteriorate in future quarters, the agency writes. Experts suggest that the economy of the Russian Federation will reach its lower point at best by mid -2023.
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