Cbank affirms Russia’s GDP growth forecast for 2019 at 1.2–1.7%

MOSCOW, Apr 29 (PRIME) -- The central bank has affirmed its forecast for Russia’s gross domestic product (GDP) growth in 2019 at 1.2–1.7%, it said in a research note on Monday.

“Our estimate of annual GDP growth has not changed from 1.0–1.5% in January–March. In 2019, growth is still projected at 1.2–1.7%,” the document read.

The regulator also said that economic activity indicators were generally in line with its expectations.

Fixed capital investment growth was close to zero, real wages have stopped rising in annual terms in February–March first since 2016 due to a high base effect and temporary acceleration of inflation. In July–December, real wages will increase 1–1.5% thanks to slowing down inflation.

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