Russia's economy will shrink by no more than 5% in 2022 -Kremlin aide
Reuters
Published May 19, 2022 05:46AM ET
Updated May 19, 2022 05:56AM ET
(Reuters) - 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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Written By: Reuters
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