Nabiullina expects Russia’s GDP to return to pre-pandemic levels by mid-year

Russian GDP may return to the pre-pandemic level in the second half of the year or even by the middle of the year, said the head of the Central Bank Elvira Nabiullina. The head of the regulator noted the need to gradually roll back anti-crisis measures.

“We expect that in the second half of this year, perhaps by the middle of the year, Russian GDP will return to pre-pandemic levels,” said Ms. Nabiullina, speaking in the State Duma (quoted by TASS).

“Anti-crisis measures have fulfilled their tasks and should be gradually phased out, otherwise we will be able to see the risks of bubbles in this market,” added the head of the Bank of Russia.

The day before, the World Bank improved its forecast for Russia’s GDP growth in 2021 and 2022 to 3.2%. Experts expect that “the recovery in economic activity, which will be based on the growth of household consumption and investment growth, will be supported by the revival of the global economy, higher oil prices and soft monetary conditions in the domestic market in 2021”.

Details – in the material “Kommersant” “Minimum income in the Russian way.”

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