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Sber expects Russia's GDP growth rate to be near zero in 2023

It is reported that by the end of the year corporate loans in the Russian banking sector will grow by 10-12%, and individual loans - by 11-13%

MOSCOW, March 9. /TASS/. Sber predicts the growth rate of the Russian economy around zero in 2023, while inflation will grow within 5-6%. The Bank of Russia, in turn, may not reduce the key rate, Serbank CEO Herman Gref said during a conference call with investors and analysts.

"We anticipate that the GDP growth rate will be close to zero this year. According to our estimations, inflation will be in the range of 5 to 6% due to wage growth against a background of low unemployment, a recovery in demand, and a weakening of the national currency. The Bank of Russia will therefore probably refrain from lowering the rate in 2023," he said.

According to his presentation, by the end of the year corporate loans in the Russian banking sector will grow by 10-12%, and individual loans - by 11-13%. Deposits of legal entities will increase in the range of 18-20%, funds of the population - by 7-9%.

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