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The economic growth Russia’s price this year is likely to be at the high end of the central bank’s forecast range of -1% to 1%, a senior bank official said on Tuesday.
In an interview broadcast on state TV, Deputy Governor Alexei Zabotkin said operating data for the first quarter of 2023 indicated that growth was likely to be “at the more optimistic end of this range.”
Russia’s Economy Ministry last week raised its 2023 GDP forecast to 1.2% growth, versus earlier expectations of a 0.8% contraction, and the International Monetary Fund also recently raised its forecasts for Russia, going from 0.3% to 0.7% growth.