The Russian economy is at the start of a new growth cycle, Russian Central Bank Governor Elvira Nabiullina said at the 26th International Financial Congress in St. Petersburg.
“Right now, our economy is at the start of a new cycle. The Russian economy has resumed positive growth trends, albeit small ones for now. This year we expect growth of 1.3–1.8 percent”, she said.
The International Monetary Fund expects roughly the same growth level from Russia. At the start of the week, the IMF left its forecast for Russian economic growth in 2017 at 1.4 percent. The same level of growth can be expected in 2018, the IMF predicts.