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Russia's economic growth to slow in 2024 as high interest rates linger, Reuters poll shows

  • Interest rates seen ending 2024 at 12%
  • Rouble seen at 100 vs dollar in 12 months
  • Economic growth seen slowing to 1.1% in 2024
  • Inflation expected to end 2024 at 5.4%

Dec 22 (Reuters) - Russia’s economic growth is set to slow in 2024, hampered in particular by double-digit interest rates throughout the year as the Bank of Russia seeks to subdue stubbornly high inflation, a Reuters poll showed on Friday.

Russia’s gross domestic product is expected to outperform early expectations and grow 3.1% this year, the average prediction of 15 analysts and economists polled by Reuters showed, rebounding from a 2.1% contraction in 2022.

But in 2024, growth, which has been boosted this year by soaring government spending, particularly on increased military production, is expected to slow to 1.1%.

Coreidan ,

Huh. I wonder if it has anything to do with the resources and human lives they are flushing down the toilet with their botched invasion

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