MOSCOW - Russia's economy will shrink by less than 3 per cent in 2022, a much shallower contraction than initially expected, while inflation will be below earlier projections, First Deputy Prime Minister Andrei Belousov said on Monday .
Despite unprecedented sanctions and many foreign companies leaving Russia, the government saw no signs that the labour market situation is worsening, Mr Belousov said, although there were risks that it could. Non-commodity exports this year will fall by 17 per cent as Russia has lost access to European markets, Mr Belousov told a televised government meeting.
Source: Financial Digest (financialdigest.net)
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