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Bank of Russia admits upgrade of mortgage growth outlook for 2023 to around 20%

In June Russia’s Central Bank announced an acceleration of mortgage growth rates

MOSCOW, July 7. /TASS/. The Bank of Russia may upgrade its outlook on 2023 mortgage growth to around 20% in its July forecast, Director of the regulator’s Financial Stability Department Elizaveta Danilova said in an interview aired by the Rossiya-24 TV news channel on Friday.

"Our latest released outlook suggested mortgage growth to 17% this year, though considering the latest very strong results we will surely upgrade this outlook. We will publish a revised outlook in July and I think it will be around 20%," she said.

In June Russia’s Central Bank announced an acceleration of mortgage growth rates, with the range for 2023 upgraded 1 percentage point to 13-17%.

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Central Bank of Russia

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