Russia's GDP shrank by 0.4% in the first half of the year, said Alexey Kuznetsov, Head of Country Analysis Center of Eurasian Development Bank (EDB), during the round table, organized by the Analytical Center for Strategic Research and Initiatives, today.

"According to the results of the year, we expect that the economy will shrink by 4%, the same figures are predicted for 2023, but in 2024, the growth is expected to be 2.5%," he said.

According to more pessimistic forecasts, the slowdown of Russia's economy will create risks for the EAEU countries in the form of reduced exports, remittances, tourist flows and investments.

"However, at the moment the trend is good," Kuznetsov added.

The expert said that in the first 7 months of 2022, Russia's trade surplus reached a historically maximum level of about $167 billion, up by $116 billion compared to the same period last year.