Russia’s cbank sees GDP growth of 1.5–2% in medium-term

MOSCOW, Nov 9 (PRIME) -- Russia’s central bank expects the gross domestic product (GDP) to grow 1.5–2% in the medium-term, but can improve the forecast, Igor Dmitriyev, director of the monetary policy department, said on Thursday.

“On the whole, we have a rather restrained forecast. We see the pace of potential (economic) growth around 1.5–2% in the medium-term,” he said.

The regulator projects GDP growth of 1.7–2.2% in 2017.

The central bank also expects a reduction of oil prices in the medium-term, but this won’t have any significant risks for the ruble rate, Dmitriyev said.

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