27 Oct 2021 14:40

Russian economy could move to 3% growth in 2023-24 by successfully implementing all govt initiatives - Central Bank

MOSCOW. Oct 27 (Interfax) - Russia could have economic growth of 3% per year in 2023-2024 by successfully implementing all of the government's initiatives, Central Bank of Russia (CBR) Deputy Governor Alexei Zabotkin said during a joint meeting of the State Duma committees.

The CBR forecasts growth of 4%-4.5% in Russia's GDP in 2021 and 2%-3% per year in 2022-2024. The Economic Development Ministry forecasts growth of 4.2% in GDP in 2021 and 3% per year in 2022-2024.

"Our growth range is 2%-3%, which is the upper limit of the range of the Economic Development Ministry's forecast. In our opinion, truly successfully implementing all of the government's initiatives is required in order to achieve this. If they are implemented, if there is a corresponding increase in potential growth rates, sustainable growth rates in the economy, then, of course, we could see 3% by the end of 2023-2024," Zabotkin said.