The Russian economy will fully recover in 2023-2024 and reach a stable level at the beginning of 2025. The Bank of Russia has shared its forecast for the country’s economic development. This was reported by “Kommersant” with reference to the report of the Central Bank of the Russian Federation.
The report notes that last year, the basis for economic growth was record “industrial capacity utilization”. In 2023, consumer demand will act as a catalyst for economic processes.
As previously reported, according to analysts of the Central Bank of the Russian Federation, by the summer of 2023 the growth of the Russian economy will reach 4.2%. And by the beginning of 2025, the GDP growth rate will fluctuate between 1.5 and 2.5%.
Note that at the end of April, the Central Bank for the fifth time maintained the key rate at 7.5% per annum.
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