The growth of the Russian economy in the fourth quarter began to slow down, but so far it remains above the trajectory of balanced growth, Interfax reports with reference to the bulletin “What Trends Are Talking About,” prepared by the Research and Forecasting Department of the Bank of Russia.
“Light-time data indicates a slowdown in the growth of the Russian economy in the fourth quarter. At the same time, optimistic business expectations for the coming year and a high level of consumer optimism remained,” the report notes.
“At the beginning of the fourth quarter, the expansion of business activity, according to surveys of enterprises and data from the Bank of Russia payment system, slowed down somewhat. However, the upward deviation of the economy from the balanced growth trajectory remains,” Central Bank analysts note.
The report also states that “the qualitative difference between the current episode of the key rate increase and the periods of 2014 and 2022. — high optimism among the population regarding future income.”
“This slows down the transition to a saving behavior model. In order for demand growth to more closely match supply expansion opportunities, a prolonged period of maintaining tight monetary conditions may be required,” experts emphasize.
Source: Rosbalt
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