Nabiullina: Russia will be among the countries that will restore economic growth earlier than others

Central Bank Chairman Elvira Nabiullina said the Russian economy will return to pre-crisis levels this quarter. According to her, Russia is among the group of countries that will be the first to restore economic growth rates.

“In the first half of the year, she (economics – “B”) is growing faster than we predicted in the April forecast. Already, if we do not take into account the restrictions on oil production and international passenger transportation, output in most basic industries has not only returned to the level of the end of 2019, but also exceeded it. Russia is among the group of countries that will be the first to reach the pre-pandemic level of release, ”said Ms. Nabiullina at a press conference. The event was broadcast by the Russia 24 TV channel.

The head of the Central Bank said that in many industries there is an outstripping growth in demand compared to opportunities for expanding supply. Growth in global demand, she said, is associated with a faster recovery in the global economy and trade.

The Bank of Russia today, June 11, for the third time in a row raised the key rate – now from 5% to 5.5% per annum. The decision is justified by higher inflation rates than expected and higher than expected rates of recovery in the Russian economy.

About the rate increase – in the material “Kommersant” “The key rate is stepping up”.

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