MOSCOW, Nov. 5 (Xinhua) — Russia’s economy is expected to increase by about 2.8 percent in 2023 after shrinking 2 percent last year, Russia’s Tass news agency reported Saturday, citing Finance Minister Anton Siluanov.
“We expect the economy to grow around 2.8 to 3 percent this year. We have fully compensated for the 2 percent decrease in growth rate that happened last year,” he said.
Siluanov also said that the ruble exchange rate has stabilized and will remain within a reasonable scope.
According to an earlier forecast by Bank of Russia, the country’s GDP growth rate would hit 2.2 to 2.7 percent this year.
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