Cbank: Russian GDP can grow 2–3% only if labor productivity rises

MOSCOW, Oct 5 (PRIME) -- Russian economy can grow faster than 2-3% per year only if  labor productivity increases greatly, Deputy Head of Russia’s Central Bank Alexei Zabotkin said on Tuesday.

“The Bank of Russia sees GDP growth rates in the range of 2% to 3%. … More substantial sustainable growth may become possible only with a more rapid growth of labor productivity, because we have almost returned to the level of employment that we had before the recession of 2020,” Zabotkin told the Federation Council.

End %%aiu/jst%%