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Growth rate of claims on Russian economy expected closer to upper bound of forecast

According to the Bank of Russia, in 2025, the overall growth rate of claims on the economy will probably be closer to the upper bound of the July forecast range of 7-10%

MOSCOW, September 12. /TASS/. The Bank of Russia has noted a revival of lending activity in recent months. The regulator projects that the growth rate of claims on the economy will be closer to the upper bound of the July forecast range of 7-10%, according to a press release following its board meeting on the key rate.

"While deposit rates are decreasing, households continue to demonstrate high propensity to save. Nevertheless, lending activity has increased in recent months. <…> According to the Bank of Russia, in 2025, the overall growth rate of claims on the economy will probably be closer to the upper bound of the July forecast range of 7-10%," the press release said.

The corporate loan portfolio growth has sped up significantly, with retail lending demonstrating some recovery, the Central Bank added.

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