Russian min sees inflation slowing to 3.6–3.8% by end of 2017

MOSCOW, Jun 7 (PRIME) -- Russia’s inflation is expected to slow down to 3.6–3.8% by the end of 2017 creating preconditions for a rate cut, Economic Development Minister Maxim Oreshkin said on Wednesday at the State Duma, the parliament’s lower house.

“Inflation pace is currently near the central bank’s 4% target and, under our estimate, should fall to 3.6–3.8% until the end of the year,” he said. “Such inflation dynamics allow the central bank to slash its key rate actively.”

Russia’s capital investment is projected to grow 3% in 2017, real wages by 2%, and the gross domestic product (GDP) growth is also expected at 2%, Oreshkin also said.

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