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Central Bank Chief: Russian economic contraction rates slow down

April 19, 13:00 UTC+3 MOSCOW
Russia’s Central Bank Chief Elvira Nabiullina projects economic growth by the end of this year
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Russia’s Central Bank Chief Elvira Nabiullina

Russia’s Central Bank Chief Elvira Nabiullina

© Mikhail Japaridze/TASS

MOSCOW, April 19. /TASS/. Russia’s Central Bank Chief Elvira Nabiullina says the regulator sees signs of slowing down economic contraction rates and projects economic growth by the end of this year.

"It is gratifying that the contraction rates are still slowing down. If there are no any fresh external shocks we expect the economy to recover and start growing by the end of this year," Nabiullina said in an interview aired by the Rossiya-24 TV news channel on Tuesday.

According to Nabiullina, the diversification of the economy will trigger growth, though it will take some time. "Hopefully, those positive trends will strengthen and deepen," she said adding that similar trends are seen in a number of sectors, including agriculture, food, chemical, pulp sectors and machinery.

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