Central Bank: annual economic growth rates will be negative


The head of the Central Bank Elvira Nabiullina said that the growth is not expected before the end of next year, the overall annual rate, according to forecasts of the regulator, will be negative to minus 1%.

MOSCOW, 10 Oct. The annual growth rate of the economy will be negative to minus 1%, growth is expected by the end of next year, said the head of the Central Bank Elvira Nabiullina.

“We expect that the economy will move into positive territory, if measured quarter to quarter, by the end of next year, but in General annual rate, according to our forecasts, will be negative to minus 1%,” — said Nabiullina on the TV channel “Russia 24”.

According to her, these predictions are based on the fact that the oil price will be around $ 50 per barrel. “If it is above, respectively, we can move on to economic growth and earlier”, — said Nabiullina.