Cbank: Russian GDP growth in 2021 may climb above 4.5%

MOSCOW, Feb 2 (PRIME) -- The final estimate of Russia’s gross domestic product (GDP) growth in 2021 may have exceeded 4.5%, the central bank’s research and forecasting department said in a research note on Wednesday.

“Economic growth may turn out to be above 4.5% in 2021. Accumulated growth of the economy stood at 4.6% in the first three quarters of 2021, and dynamics of baseline industries in October–November signaled a possible increase of growth of annual GDP in the fourth quarter,” the research note read.

The GDP in 2021 improves the base effect for GDP growth in 2022. Even if quarter-on-quarter dynamics slow down to zero in 2022, annual growth will still amount to 1.4%, while the probability of an upward revision of the previous estimates for 2021 is high, the analysts said.

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