The Central Bank has raised its expectations of Russia’s economic growth this year, the forecast for GDP growth in the medium term remains at the level of 1.5-2 percent.
“Taking into account the positive dynamics of the second quarter, the GDP growth forecast for 2017 was raised to 1.7-2.2 percent” - the message said. Earlier the Central Bank expected the growth of the economy by 1.3-1.8 percent this year. Limitations for economic growth may be the shortage of production capacities, as well as the situation on the labor market with a possible shortage of qualified personnel, as Central Bank believes. “In the future the rate of GDP growth above 1.5-2 percent per year will be achievable under the conditions of structural changes” – the experts write.
Author: Anna Dorozhkina