The 4.7% expansion in Russian GDP in 2021 is consistent with a marked acceleration in growth in Q4. We expect the recovery to slow this year but the backdrop of a large and positive output gap will make it more difficult for the central bank to tame inflation and is a key reason why we expect interest rates in Russia to remain higher for longer than most seem to expect this year and next.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services