President of the Russian Foreign Trade Bank predicts zero GDP growth in 2023

President Kostin of the Russian Foreign Trade Bank said that under the unprecedented pressure of sanctions, Rusia's GDP fell by only 2.1% in 2022, and the ruble exchange rate remained basically unchanged. The Russian economy withstood the test and continued to operate. It is expected that Russia's GDP growth rate will approach zero in 2023, which is not the best result, but it is also not catastrophic. Russian Prime Minister Mishuskyin previously stated that Russia's macroeconomic data in 2022 was better than expected, economic stability was strengthened, and enterprises restructured their logistics chains and opened up new overseas markets. According to the economic forecast for 2023 to 2025 previously released by the Ministry of Economic Development of Russia, Russia's GDP will decline by 0.8% in 2023, and the inflation rate will slow to 5.5% from 11.9% in 2022.