Russia's economy likely to return to 2019 growth rates only in Q1 2022 - Yudaeva
MOSCOW. July 28 (Interfax) - The recovery of the Russian economy to the growth rates of 2019 will likely occur only in the first quarter of 2022, First Deputy Governor of the Central Bank of Russia (CBR), Ksenia Yudaeva, said during an online conference hosted by Vedomosti.
"We see the economic recovery at the level of 2019 only probably in the first quarter of 2022, and entering the previous trend likely by the end of 2022," Yudaeva said.
The CBR had previously forecast the growth rate of the Russian economy at 1.5%-2% as potentially.
Russia's GDP grew 1.3% in 2019. The CBR recently forecast that the Russian economy would likely fall 4.5%-5.5% in 2020, likely grow 3.5%-4.5% in 2021, and likely show growth of 2.5%-3.5% in 2022.