MOSCOW, September 5. /TASS/. GDP growth in Russia by the end of the year can be within the upper bound of the forecast at 1.5-2.5%, according to Deputy Chairman of the Bank of Russia Alexey Zabotkin.

"We will improve the forecast. According to current data, growth for this year is approaching the upper limit of the forecast," he said.

At the same time, Zabotkin noted that annual inflation in Russia is approaching the high limit of the Bank of Russia's predicted range of 5-6.5%. "Considering the July data and the live data for August, inflation is moving closer to the upper limit of the range that was published following the results of the July meeting," he said.

The growing volume of imports, he noted, continues to influence the ruble exchange rate. "At the moment, the rate is significantly affected by the dynamics of imports, the demand for which is supported by the expansion of lending and domestic demand," Zabotkin explained.