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Russian regulator cuts GDP 2014 estimate from 3% to 1.5-1.8%

February 14, 2014, 17:31 UTC+3 14
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MOSCOW, February 14. /ITAR-TASS/. Central Bank of Russia (CBR) reduced its estimate for Russia's GDP this year from 3% to 1.5-1.8%, CBR governor Elvira Nabiullina said on Friday.

Inflation is expected to stand at 5.8-6.1% year-on-year at the end of the first six months 2014 and to drop to 5 percent by year-end. According to Nabiullina, the ruble’s weakening in January and February had a moderate impact on inflation (0.5 p. p.) which risks increasing in the future.

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