Analysts from the Center for Price Indices (CPI) significantly improved their forecast for Russia’s GDP growth in 2024, increasing it from 1.6% to 2.7%. writes about this TASSTASS with reference to expert data.
Particularly positive changes were made in the forecasts for the second quarter of 2024. During this period, expected GDP growth more than doubled, from 1.49% to 3.15%. The forecast for the third quarter was adjusted from 1.25% to 1.81%, and the forecast for the fourth quarter was adjusted from 0.98% to 1.28%.
According to CCI analysts, the acceleration of economic growth is due to a number of factors, including the strengthening of the ruble and increased commercial activity in industry.
The center also expects inflation to slow down in the country. At the end of the second quarter of 2024, the consumer price index forecast was reduced from 7.9% to 7.8%, and at the end of the year from 5.5% to 5.4%.
As for the key rate of the Central Bank of the Russian Federation, experts’ expectations for this indicator were increased from 12% to 14% due to the regulator’s plans to tighten monetary policy in order to reduce inflationary pressure.
The center predicts that the Russian economy will grow by 1.6 percent and 1.5 percent in 2025 and 2026, respectively.
Before that experts said About the expectation that the tight monetary policy in Russia will be maintained in the long term.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.