The Central Bank has kept the forecast of growth of the Russian economy in the range of 1.5 – 2%

© RIA Novosti / Natalia to Seliverstova in fotobanka the building of the Central Bank of the Russian Federation. Archival photoThe Central Bank has kept the forecast of growth of the Russian economy in the range of 1.5 – 2%© RIA Novosti / Natalia to Seliverstova the image Bank

The Bank of Russia still expects growth of Russia’s GDP by 2018 in the range of 1.5–2%, according to a press release regulator.

Central Bank of the Russian Federation at the meeting of the Board of Directors on interest rate policy on Friday expected kept its key rate at 7.25% per annum.

«The Bank of Russia expects economic growth rate to 2018 in the range of 1.5–2%, which corresponds to the potential growth of the Russian economy in conditions of the lingering structural constraints,» said the regulator.

Updated data of Rosstat reflect more confident economic growth in 2017 or early 2018 than previously estimated, said the Central Bank. «This does not significantly change the view of the Bank of Russia on the impact of business activity on the dynamics of inflation, given that the review process is mainly concerned with the production of investment goods», — stated in the message.

Of the Central Bank in mid-June announced that it expects GDP growth of Russia in the second and third quarters in the range of 1.1 to 1.6 percent. The regulator also announced that it is maintaining the forecast growth of the Russian economy in the current year 1.5-2%. The Central Bank predicts that in 2019-2020, the GDP growth rates will remain near these levels.

According to the Department of studies and forecasting of the Central Bank, whose opinion may not coincide with the official position of the Central Bank, GDP growth in 2018 will be closer to the upper limit of the interval 1.5-2%.

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