The Central Bank of Russia decided to increase its 2023 inflation forecast to 6-7 percent. This has been reported Web site financial regulator
The statement said, “According to the updated forecast of the Central Bank of Russia, annual inflation will be in the range of 6-7 percent at the end of the year.”
The Central Bank also emphasizes that, considering the current monetary policy, annual inflation will return to 4 percent next year and will be close to 4 percent in the future.
The Central Bank of the Russian Federation also lowered its GDP growth forecast for next year.
The Central Bank said, “The GDP growth rate will be 1.5-2.5 percent in 2023, 0.5-1.5 percent in 2024, and 1.0-2.0 percent in 2025.”
In addition, the Central Bank of the Russian Federation increased its forecast for the growth rate of loans to companies for next year from 12-16% to 14-18%.
News is being updated.
Previously Hungarian authorities explained High inflation in the country.