No risk of recession in Russia next year – central bank ...News

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No risk of recession in Russia next year – central bank
The economy will grow 1.5% in 2024, the regulator forecast The Russian economy is not expected to go into a recession next year, the head of the central bank, Elvira Nabiullina, announced on Friday. The country’s GDP is forecast to grow by around 2.7% this year, driven by strong domestic demand. For 2024, the central bank is projecting growth of 0.5% to 1.5%. This estimate, however, will be reviewed in February, Nabiullina said, adding that it is important to make “timely decisions” to cool excess demand and reduce inflation. The announcement came shortly after the Bank of Russia raised the key rate by 100 basis p

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