Russian economic activity slightly below Central Bank's April forecast - CBR deputy governor

ST. PETERSBURG. July 3 (Interfax) - Economic activity in Russia is developing slightly below the Central Bank of Russia's April forecast, CBR Deputy Governor Alexei Zabotkin told reporters.

"Economic activity in the second quarter is probably running slightly below what was projected in the April forecast," Zabotkin said on the sidelines of the Central Bank's Financial Congress in St. Petersburg.

Following its April meeting on the key rate, the Central Bank expected Russia's GDP to grow 1.9% year-on-year in Q2 2025, with a further slowdown to 0.0%-1.0% in Q4 2025.

The Central Bank's April forecast projected Russia's GDP growth at 1%-2% for 2025.