Russia's economic growth rate is below potential, Russian Presidential Adviser Elvira Nabiullina said, according to news agency Itar-Tass.
But it can grow at 3-4 percent this year, Bank Rossii Governor-designate Nabiullina said. She said institutional reforms are needed for better growth.
The central bank is under immense pressure to cut rates to contain slowing growth. It has kept its key rate unchanged at 8.25 percent for the seventh consecutive month, but reduced rates on long-term liquidity operations by a quarter point in April as it sees increased risks to economic growth.
The bank said the macroeconomic indicators pointed to a continuing deceleration of economic growth and increased risks of its deceleration.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.