Russia sees obvious trend towards lower inflation — Putin

Bishkek,SANA- Inflation in Russia is declining, this trend is obvious, Russian President Vladimir Putin said on Friday at a meeting of the Supreme Eurasian Economic Council in Bishkek.

“We have an obvious downward trend in terms of inflation. This is important for all our countries, because macroeconomic indicators in the Russian economy in one way or another affect all our economies,” he said.

According to Putin, this year the inflation rate will be acceptable for the Russian economy at 12.2%. “Next year, based on the results of the next quarter [2023], we expect to approach 5%, and maybe even lower,” the president said.

Putin noted that the EAEU countries manage to keep various macroeconomic indicators, including inflationary ones, “within a reasonable level”.

Putin added that Russia’s GDP in 2022, contrary to forecasts, will decrease by only 2.9%, and positive dynamics is expected in the future. “As for the general development of the economy, our economic decline was forecast at around 20%. The decline this year will be 2.9%, next year we expect 0.9%. We will continue the positive trend in the future,” he said.

Source TASS

Shaza Qreima