MOSCOW, April 23. /TASS/. The 4% inflation target set by the Bank of Russia will be reached in 2025, Minister of Economic Development Maxim Reshetnikov said when presenting an updated macroeconomic outlook of the ministry at the Cabinet meeting.

"We expect to achieve the 4% inflation target of the Bank of Russia in 2025," Reshetnikov said.

According to the forecast of the Bank of Russia, annual inflation is expected to decline to 4-4.5% in 2024 and will be about 4% further on.