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Russia Central Bank: Economic growth rates close to potential

Elvira NabiullinaRussia’s economic growth rates are close to potential, Central Bank chief Elvira Nabiullina said, adding that this year’s GDP growth is expected to reach 1.8%.

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"The economy is rising, though growth rates are not very high so far. According to our estimations, current (growth) rates are close to potential. 2017 annual GDP growth rates will reach 1.8%," TASS cited her as saying.

According to Nabiullina, lending to the Russian economy will continue growing in recent years by 7-10% per year.

The Central Bank estimated that lending growth is 4.7% year-to-date, she said.

"Retail lending is recovering quicker - it is already above 9%. Lending to nonfinancial entities is recovering slightly lower," the governor added.


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