Central bank expects GDP to fall by 2.4% in January–March

MOSCOW, Feb 20 (PRIME) -- The central bank expects Russia’s annual inflation to amount to 3.6% in January–March, and the gross domestic product (GDP) to fall by 2.4%, the regulator said in a monetary policy report published on Monday.

Under the bank’s forecast, inflation will amount to 5–7% in 2023, while GDP will either rise by 1% or fall by 1%.

Annual inflation will fall below 4% in April as a result of a low base effect. In the next quarters, the impact of pro-inflationary factors will start to ramp up, while the effect of dis-inflationary factors should wind down, the central bank said.

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