The growth of the Russian economy continued in the second half of the summer, despite the increasing constraints of the factors of production. This was reported by Central Bank analysts in the bulletin. What are the trends talking about?.
“According to the survey data, the signs of slowdown seen in June and July were replaced by a new recovery in August,” the bulletin said.
According to the analytical data, the country’s economy continued to grow rapidly in July-August. Much of the growth came from consumer goods and services manufacturers as well as industries backed by government demand. In the bulletin, it is stated that the active expansion of retail loans amid improving consumer confidence and increasing citizens’ incomes will further increase domestic demand in the future.
Before that, Alexei Zabotkin, Deputy Chairman of the Central Bank of the Russian Federation guess The growth of the Russian economy until the end of the year is in the range of 1.5-2.5%.
Former Russian President Vladimir Putin aforementioned on reducing the budget deficit.