OREANDA-NEWS  Russia's GDP will shrink by 3 percent in 2023, thus the decline will accelerate compared to 2022. This is stated in the forecast for the Russian economy by the international rating agency Moody's Investors Service, which is referred to by RBC.

Experts have warned that the strengthening of Russia's international isolation due to sanctions may force the government to resort to unorthodox financial policies. As an example of possible actions, they cite the launch of a "printing press" to fill the budget, which threatens macro-financial stability and will lead to an increase in inflation.

In 2022, Russia's GDP, according to Rosstat, decreased by 2.1 percent. The authorities are preparing for an improvement in the situation this year, in particular, the Central Bank's expectations range from a drop by a percentage to an increase by the same amount. Experts of the International Monetary Fund (IMF) agree with him, according to which Russia's GDP will grow by 0.3 percent.

In turn, the European Bank for Reconstruction and Development (EBRD), in its updated February forecast, assumes a decrease in Russia's GDP by three percent due to a drop in revenue from the sale of energy carriers. Moody's arguments lie in the same plane. The agency's analysts believe that Western sanctions against Russian oil will lead to a reduction in income and access to foreign currency. If the restrictions are more successful, the Russian economy will fall even more.