MOSCOW, October 11. /TASS/. The Russian GDP forecast for 2022 is likely to be improved, according to Director of the Monetary Policy Department of the Bank of Russia Kirill Tremasov. The updated forecast of the Bank of Russia will be presented on October 28 after the meeting of the Board of Directors on the key rate.

"It is highly likely that the GDP forecast for this year will be improved," Tremasov said.

He recalled that the July forecast of the Bank of Russia assumed a decline in GDP from 4% to 6%. "In recent months, we have been talking about the fact that the decline in business activity is taking place along a flatter trajectory than was expected in the spring. The updated October forecast will reflect these changes," he explained.

The inflation forecast, updated by the Bank of Russia in September, at the level of 11-13% at the end of 2022, remains relevant, he added.

The forecast for inflation in Russia for 2023 at the level of 5-7% and a return to the target in 2024 at the level of 4% also remains in force, Tremasov added.