“Taking into account the development of the situation, we estimate the GDP growth for the current year at 4.2%,” TASS quoted Reshetnikov as saying.
In recent months, the pace of business activity has slowed down, the recovery potential of the Russian economy as a whole has been exhausted, the minister explained.
“Now the economy has entered its own trajectory, the epidemiological situation has worsened, so we can hardly count on higher rates this year,” Reshetnikov concluded.
The head of the Ministry of Economic Development also noted that in 2022, the growth rate of GDP in Russia will be affected by an increase in oil production as part of the OPEC + deal.
Earlier, the World Bank improved its forecast for Russia's GDP growth in 2021 to 4.3% from 3.2%.