Free Trial

Economic Development Ministry Estimates 2023 GDP Growth to Be 3.5%

RUSSIA
  • The Economic Development Ministry estimates the growth of Russia's GDP at 3.5% in 2023, Economic Development Minister Reshetnikov said according to Interfax. The improvement by the state statistics service of its assessments of Russian GDP dynamics shows that the economy is resilient and has successfully adapted to sanctions and the situation following the Covid-19 pandemic, he added.
  • Russian coal miners may earn up to $1.5bln more this year after Russia scrapped a ruble-linked export tax for the industry, Kommersant report citing its own estimates based on customs data and analyst evaluations. The windfall tax was initially introduced in September, aimed at ensuring domestic market supply and was set run through the end of 2024, but was scrapped at the end of the year.
  • There are no domestic economic releases on the docket today. CPI data is the key release of the week on Friday. Headline CPI is expected to rise +7.60% y/y, +0.9% m/m.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.