Russia: in November 2008 the Ministry of Finance expected GDP growth of 6.7% for 2009; the outcome was −7.8%
Next-year forecasts of 17 releases (2008–2024): the outcome above the forecast 9 times, below 8; typical error +0.52 percentage points. The largest under-forecast in October 2022: −0.8% expected for 2023, the outcome was 4.1%. The largest over-forecast in November 2008: 6.7% expected for 2009, the outcome was −7.8%.
Source: Russian Ministry of Finance: budget policy guidelines 2009–2026; 2009 budget law; Ministry of Economic Development; Bank of Russia; IMF (GDP)Open on the chart →