MOSCOW, February 6. /TASS/. The growth of the Russian economy continues, despite the slowdown at the end of the year, business expectations for 2024 are mainly optimistic, as follows from the latest issue of the bulletin "What Trends Say" by the research and forecasting department of the Bank of Russia.
"The statistics indicate ongoing growth of the Russian economy despite a slight slowdown in its pace at the end of 2023. Business expectations for 2024 remained optimistic," the report says.
As experts note, the expansion of consumer demand was restrained by the ongoing slowdown in retail lending in response to an increase in interest rates and tightening of macroprudential limits. This was also facilitated by the acceleration of the growth of citizens’ funds in banks, especially those placed on time deposits up to one year at attractive rates. As a result, the growth of consumer prices in December-January became more restrained. However, according to the analysts, it still remains high.
"The inflation expectations of business and the population remain elevated. In the coming months the decisions already made on monetary policy will lead to a further gradual slowdown of inflation processes and a return to balanced rates of economic growth and low inflation," the bulletin says.
The document notes that the conclusions and recommendations contained in the bulletin may not coincide with the official position of the Bank of Russia.