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Bank of Russia lowers its forecast for global economic growth — regulator’s head

The regulator also lowered the forecast for Russian exports this year, Elvira Nabiullina noted

MOSCOW, April 25. /TASS/. The Bank of Russia has lowered its forecast for global economic growth amid a revision of import duties in the world's largest economies, head of the regulator Elvira Nabiullina said at a press conference following a meeting of the regulator's board of directors.

"The main topic since the last meeting was the revision of import duties in the world's largest economies. Taking this into account, we have lowered the global economic growth in the updated forecast," she said.

The head of the Bank of Russia noted that lower global demand will lead to lower prices for raw materials, which, in turn, affected the adjustment of the oil price forecast. The regulator also lowered the forecast for Russian exports this year, Nabiullina noted, adding that the dynamics of imports will be "restrained" under the influence of tight monetary policy.

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