The Ministry of Economic Development predicted that the fall in Russia's GDP by the end of the year will be less than 3%

“If in March-April, optimists announced that the economy would fall by 10 percent this year, and pessimists by 20 percent, now we already understand that the economic decline in 2022 will be less than 3%,” TASS quotes Kryuchkova.

Earlier, Russian presidential spokesman Dmitry Peskov said that the country's gross domestic product would decline by more than 2% by the end of the year, while a larger drop was predicted.

At the same time, the head of VTB Andrey Kostin predicted a fall in Russia's GDP by 4% at the end of the year, and the head of Sberbank German Gref - by about 4.5%.

On the sidelines of the Eastern Economic Forum, Russian President Vladimir Putin announced that the peak of the most difficult situation in the country's economy has passed.