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Economic Development Ministry Upgrades 2023 Growth Forecast

RUSSIA
  • Russia’s Economic Development Ministry upgraded its economic growth forecast for 2023 from a fall of 0.8% to some small growth of between 0.1% and 0.2%, Minister Maxim Reshetnikov said today. “We confirm that our expectations for this year are positive, we expect significant growth based on the figures connected with the economic development, investment, better forecasts for people's income,” the minister said, as cited by Prime.
  • The Ministry of Agriculture may recommend that producers of sunflower oil, sunflower and wheat not export their products against the backdrop of a sharp decline in world prices, Vedomosti report. A meeting with representatives of these segments is planned to be held "before the end of this week."
  • There are no major economic releases scheduled today. Foreign Minister Sergei Lavrov will speak at a meeting of the Gorchakov Fund think tank.

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