Cbank says quarterly GDP rise to accelerate to 0.4% AprilJune - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Cbank says quarterly GDP rise to accelerate to 0.4% AprilJune

MOSCOW, May 13 (PRIME) -- Russias quarterly gross domestic product (GDP) growth will accelerate to 0.4% in AprilJune from 0.20.3% in JanuaryMarch, according to a report by the research and forecast department of the central bank released on Monday.

Economic growth acceleration prospects have improved: starting from the second quarter the growth rate will stand at about 0.4% on the quarter in seasonally adjusted terms, and will reach its potential, the department said.

The central bank also reduced its JanuaryMarch GDP growth estimate to 0.20.3% from 0.3%.

The central bank estimates annual GDP growth in JanuaryMarch at 1.01.5%, and for the whole year at 1.21.7%.

The bank said that the possibility that inflation will slow down to the target of 4% in JanuaryMarch 2020 has increased.

The consumer price dynamics and the current level of inflationary pressure in the economy point to a higher possibility that inflation will slow down to 4% in the first quarter of 2020, it said.

Temporary disinflation factors, including the firming ruble, favor this. Short-term pro-inflation risks, including those linked with value-added tax (VAT) have fallen.

A preventive hike of the key rate in the second half of 2018 has reached its goal, but medium-term risks of inflation exceeding 4% still predominate, the authority said.

Annual inflation has passed its peak at a lower than expected level thanks to the strengthening factors that curb the price growth temporarily the firming ruble and falling diesel fuel prices, the central bank said.

The VAT effect on the consumer price growth has ceased to be traced in statistics, pointing, in part, to the absence of significant indirect factors.

End

13.05.2019 12:47
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 70.6761 +0.0037 15 nov
USD 64.2101 +0.0092 15 nov
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1436.98 -0.06 18:50 14 nov
micex 2922.45 -0.39 18:50 14 nov
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 248.34 -1.37 18:49 14 nov
lkoh 6084.50 +0.57 18:49 14 nov
rosn 457.30 -0.48 18:49 14 nov
sber 237.50 +0.12 18:49 14 nov
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 70.3650 -0.4200 14:59 14 nov
USDTD 64.1300 -0.2525 17:44 14 nov