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Russian economy continues to grow rapidly in Q1 2024 — Bank of Russia

At the first two meetings in 2024, the regulator decided to maintain the key rate at 16% per annum

MOSCOW, April 10. /TASS/. The Russian economy continues to grow rapidly - fears that raising the key rate would "end" the economy were not justified, Governor of the Bank of Russia Elvira Nabiullina said on Wednesday.

"There were numerous concerns in the fall that increasing the key rate would ‘end’ the economy. However, we see that this is not the case. Economic growth declined marginally in the fourth quarter, although it remained strong. GDP increased by 3.6% by the end of the year. Now operational figures reveal that the economy continues to grow at a high rate in the first quarter of this year," she said.

At the first two meetings in 2024, the regulator decided to maintain the key rate at 16% per annum. The next meeting is scheduled for April 26.

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Central Bank of Russia

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Putin says Oreshnik missile system cutting-edge innovation by Russia, not Soviet byproduct

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Gazprombank’s UnionPay cards no longer serviced in several countries

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Here are the key statements, made during the meeting

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Top stories from the Russian press on Friday, November 22nd

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