MOSCOW, February 16. /TASS/. The current situation in the world’s economy is evolving better than expected by the Bank of Russia, Governor of the Central Bank Elvira Nabiullina said at the press conference after the regulator’s Board meeting.

"The situation in the global economy is generally evolving slightly above expectations," she said.

However, "such improvement does not lead to a significant rise in the demand for export commodities" because "the non-materially intensive services sector is acting as the main growth driver," Nabiullina noted.

The Bank of Russia decided at the first meeting in 2024 to keep the key rate at the level of 16% per annum.