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.
Xinhua News Agency, founded on November 7, 1931, is China’s national news agency as well as a global news and information network. Xinhua has set up a global news and information gathering network, with headquarters in Beijing, 33 domestic bureaus in provinces, autonomous regions and municipalities plus the special administrative regions of Hong Kong and Macao, as well as 140 bureaus in the rest of the world. Xinhua is yet to set up a bureau in Taiwan, where it has posted resident correspondents. Xinhua provides its worldwide subscribers with news and financial information products in the forms of text, photo, graphics, audio, video, and mobile phone text messages 24 hours a day in eight languages: Chinese, English, French, Russian, Spanish, Arabic, Portuguese and Japanese.
