Cbank expects Russia’s Jul–Dec GDP to grow faster than in Jan–Jun

MOSCOW, Jun 17 (PRIME) -- Russia’s gross domestic product (GDP) will grow faster in July–December than in January–June, Alexei Zabotkin, head of the central bank’s monetary policy department, told reporters on Monday.

“Growth will be higher in the second half of the year than what we saw in the first half. We expect that to happen under our baseline forecast,” he said.

On July 14, the regulator reduced its 2019 growth forecast to 1–1.5% from 1.2–1.7%. At the same time, the authority maintained its forecasts for 2020 and for 2021 at 1.8–2.3% and 2–3%, respectively.

The Economic Development Ministry said previously that Russia’s GDP increased 1.6% on the year in April but added only 0.8% in January–April.

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