The head of the Central Bank of Russia Elvira Nabiullina predicted the start of growth of the Russian economy by the end of 2023. It is reported by TASS.

“The Russian economy will return to a balanced growth path by the end of 2023 and will continue to develop at a pace consistent with its potential,” she said.

Earlier it was reported that the Bank of Russia raised its inflation forecast. According to the Central Bank’s forecast, taking into account the ongoing monetary policy, annual inflation will decrease to 5.0-6.0% in 2022 and return to the target in mid-2023. In the future, annual inflation will be close to 4%.

The Ministry of Economic Development also reported that Russia's GDP growth in 2021 amounted to 4.6% compared to 2020. At the same time, the 2.7% decrease that occurred in 2020 was fully offset.

bbabo.Net