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Russian economy may reach positive trends by 2022 year-end — presidential aide

According to Maxim Oreshkin, lending volumes are growing, interest rates are going down

SOLNECHNOGORSK, July 16. /TASS/. The Russian economy is expected to achieve certain "positive trends" by the end of this year, presidential aide Maxim Oreshkin said on Saturday.

"The "economic flywheel" is gradually spinning up. Lending volumes are growing, interest rates are going down. We see loan portfolios of banks are already growing step by step. The even declined in certain weeks of the most challenging periods of April - May. All this indicates that the "economic flywheel" has started working. We should achieve certain positive trends as early as by the end of this year," Oreshkin said.

Inflation in Russia can turn out to be much lower than in the European Union by the second quarter of 2023, the presidential aide said earlier.