Increase in financial flows in Jan indicates significant economic growth - Central Bank of Russia

MOSCOW. Feb 6 (Interfax) - The continued rapid increase in financial flows in January indicates noticeable economic growth at the beginning of the year, the Central Bank of Russia said in a commentary.

Growth in payments was observed across all major industry groups, with the highest increase in investment-demand sectors, the CBR said.

"Part of the substantial increase in receipts in certain industries is likely due to more active advance payments for government contracts at the beginning of the year. Since these payments are redistributed within the calendar year, the nominal growth in January payments cannot be fully attributed to growth in economic activity. Some of the increase can be explained by accumulated payments due to longer new year holidays this year (11 calendar days compared to 8-10 days in previous years), a factor that is difficult to fully account for in seasonal adjustments. Nevertheless, the significant increase in receipts in January still supports the conclusion of noticeable economic growth," it said.

The volume of incoming payments processed through the CBR's payment system in January 2025 showed significant growth for the second consecutive month, rising by 8.8% compared to the average level of Q4 2024. Excluding mining, petroleum products and public administration, financial flows increased 11.4%.