The Russian Federation expects that by the end of 2022, inflation will be 18-23%, and Russia’s GDP, according to regulator forecasts, will decline by 8-10% this year.
The Russian Federation expects that by the end of 2022, inflation will be 18-23%, and Russia’s GDP, according to regulator forecasts, will decline by 8-10% this year. This is stated in the message of the Central Bank of the Russian Federation.
According to the forecast of the Central Bank of the Russian Federation for 2023, GDP will not grow or fall in the range of up to 3%, annual inflation will be 5-7%; for 2024: GDP will grow by 2.5-3.5%, annual inflation will be 4%.
The forecast for the inflow of capital from the Russian Federation in 2022 has doubled – from 75 to 151 billion dollars. At the same time, the Bank of Russia lowered the key rate from 17% to 14% per annum. This decision was made following the Board of Directors meeting on April 29.
“The external environment for the Russian economy remains difficult and significantly limits economic activity. Price risks and financial stability have stopped growing, creating conditions for a major rate cut. The latest weekly data indicates a slowdown in current price growth rates due to the strengthening of the ruble and cooling of consumer activity “, – said the Central Bank.
On February 28, the Central Bank of the Russian Federation raised its key rate from 9.5% to 20% per annum, which is a record high since 2013. The decision was made against the backdrop of tough sanctions against the Russian Federation. .
Earlier, Russia’s Central Bank admitted that it could no longer bear the economic consequences of the sanctions imposed because of the war against Ukraine.
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Source: korrespondent
