Russian Central Bank Retains GDP Growth Forecast for 2019 at 1.2-1.7%
The Bank of Russia on Friday retained its forecast for this year's economic growth at 1.2-1.7 percent of gross domestic product (GDP) and kept the key rate at 7.75 percent, the bank said in a press release
MOSCOW (Pakistan Point News / Sputnik - 08th February, 2019) The Bank of Russia on Friday retained its forecast for this year's economic growth at 1.2-1.7 percent of gross domestic product (GDP) and kept the key rate at 7.75 percent, the bank said in a press release.
"Recent months have seen slower growth in economic activity.
December recorded a decline of growth rates in industrial production, construction volumes, real wages and retail sales. The Bank of Russia maintains its 2019 GDP growth forecast at 1.2-1.7%," the press release read.
The central bank added it expected the economic growth to pick up in the coming years as it was implementing planned "structural measures." But it warned of existing inflation risks despite last month's climb in oil prices.