The Bank of Russia has raised the forecast of real GDP growth in the Russian Federation for 2024 to 3.5–4%. This is reported in the materials of the regulator.
Real GDP growth for 2025 has been lowered to 0.5–1.5%, and for 2026 – to 1-2%. Tighter monetary conditions in the forecast period will affect the dynamics of economic activity, the Central Bank emphasizes.
The economy is projected to steadily stabilize on a balanced growth trajectory from 2027. In 2027, the increase in economic activity will be 1.5–2.5%.
The regulator emphasizes that the current GDP growth rate in the third quarter of 2024 will continue to slow down under the influence of the increasing effects of tight monetary conditions. High consumer and investment demand will continue to be the main driver of growth.
