Russian GDP growth to be nearer 4% in 2021, then without any transformations to be closer to potential of 2% - CBR
MOSCOW. May 13 (Interfax) - Russian economic growth will be nearer to 4% in 2021; in the current year and the next, this will be recovery growth, Central Bank of Russia department head Kirill Tremasov said.
"This year, by all appearances, growth will be nearer to 4%. This is largely recovery growth; it will remain elevated next year too, but then, most likely, in the absence of any serious transformations, increased investment activity, growth of investment in the economy, we won't be able to grow faster than this potential, that is, 2% - this is what we can be guided by in the long term," Tremasov said during an expanded meeting of the supervisory board of the Stolypin Institute for the Economy of Growth.
In April, the CBR maintained its Russian GDP forecast for 2021 in the range of 3.0-4.0%, for 2022 - 2.5-3.5%, and for 2023 - 2.0-3.0%.
The Russian Economic Development Ministry expects GDP growth in 2021 at the level of 2.9%, having lowered it from 3.3% in April; in 2022 - 3.2%, lowered from 3.4%; and in 2023 - 3.0%.