Bank of Russia sees economy cooling by 2026
Central Bank of Russia Governor Elvira Nabiullina stated on Friday that the national economy is expected to recover from overheating in the first half of 2026, Azernews reports.
Speaking at a press conference following the central bank's monetary policy decision, Nabiullina said that the bank revised down its GDP growth projections for 2025, and now anticipates that the Russian economy will grow between 0.5% and 1%. "GDP growth will accelerate in the coming years," she noted.
The governor further said that inflationary pressures will linger until mid-2026. "The updated forecast raises the inflation estimate for next year to 4-5%.
This revision is due to temporary inflationary factors, including the situation in the fuel market, tax increases, and the faster indexation of utility rates," she underlined, adding that inflation is expected to hit the central bank target of 4% in the second half of 2026.
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