OREANDA-NEWS The Ministry of Economic Development predicts an acceleration in the growth of the Russian economy in 2024 by 2%, in 2025 and 2026 — up to 2.6% and 2.8%, respectively, a representative of the ministry told reporters. Such data, according to him, are contained in the parameters of the scenario conditions of socio-economic development of the Russian Federation for 2024 and the planning period 2025-2026.

Earlier on Friday, the head of the Ministry of Economic Development Maxim Reshetnikov said that Russia's GDP will grow by 1.2% in 2023 after a decline of 2.1% in 2022.

According to the representative of the department, in the scenario conditions for the upcoming three-year period, the Ministry of Economic Development will not publish assessments of the situation in the fuel and energy complex.

"In view of countering sanctions decisions, we have closed all possible indicators in the open part of the forecast that could harm the activities of companies in various areas, but the main thing is the fuel and energy complex," the representative of the ministry said.

Earlier, the Ministry's forecast provided estimates on the level of oil production, forecasts for gas exports to countries of the far and near abroad, average contract prices for gas and more.

In addition, according to a federal official familiar with the discussion of the forecast, "within the scenario conditions, a departure from the Urals brand price indicator is provided (due to its unrepresentativeness)."

"An estimate of the export contract price according to the FCS data was used for the forecast," the official said.

The parameters of the scenario conditions for 2024 and the planned period of 2025-2026 include a gradual decline in Brent prices – from $80.7 per barrel in 2023 to $70.6 per barrel in 2026.

In the forecast of the Ministry of Economic Development, prepared in September 2022, the price of Urals crude oil in 2023 was set at $70.1 per barrel.