The head of the State Duma committee on the financial market, Aksakov, said that the decline in GDP was less than 3% per year

“We have a small decline in GDP this year - less than 3%, although initially they predicted more than 10%, then 6-5%.

That is, the situation improved by the end of the year,” he said.

Aksakov added that he is optimistic about the situation and expects a slight increase - at least 1.5% - next year.

The head of the Bank of Russia, Elvira Nabiullina, said earlier that the regulator would adjust the macroeconomic forecast in February 2023.

Prior to this, Nabiullina predicted a slowdown in annual inflation in Russia in the coming months.