Russia Predicts Prolonged Economic Slowdown
Russian Economic Development Minister Maxim Reshetnikov mentioned that Moscow and the central bank have coordinated efforts to manage and curb inflation by the conclusion of 2025. Nevertheless, there have been some increases due to a partial adjustment in value-added tax (VAT) and rising food prices in January of this year.
Addressing the State Duma, the lower chamber of parliament, Reshetnikov explained that the nation's inflation is predicted to ease following January and approach the 4% target, while the effects of monetary policy measures will require six to nine months to manifest.
According to earlier projections by the ministry, the economy was anticipated to begin recovering in the latter half of the year.
Russia's Central Bank forecasts that the nation's economy will expand by 0.5-1.5% in 2026.
The Russian economy has entered a period of cooling, having grown by 4.1% in 2023 and 4.9% in 2024, but only 1% last year.
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