Russian economy will need at least two years to readjust under sanctions – official

Baku, April 13, AZERTAC

Russia's economy will need at least two years to readjust if sanctions remain at their current level, Head of the Russian Accounts Chamber Alexey Kudrin told reporters, according to TASS.

"Of course, our economy will have to readjust. I believe that we need to separate the medium and long term. If sanctions stay at the current level, then it will take at least about two years. I would say that this is the first stage, and then we will have to restructure over many years, because it involves import substitution of a number of goods," he said.

Earlier, Kudrin said that the decline in Russia's GDP at the end of 2022 would surpass 10% and inflation could reach 20%.