Russian economy continues to recover
Despite multiple challenges from the West following Ukraine war, the Russian economy continues to pick up, head of the country's central bank Elvira Nabiullina said on Tuesday.
"Now our economy is already very close to returning to the level of economic activity at the end of 2021," Nabiullina said at the All-Russian Congress of Financial Education Volunteers.
"Although the worst forecasts did not materialize, this does not mean that the tests are over," she added.
Nevertheless, the recovery has allowed the financial regulator to devote more time to its long-term priorities, including financial education for citizens, rather than to prompt response to challenges, Nabiullina noted.
Russia's GDP declined by 2.1% last year, a better performance than previous estimates, official data showed.
The central bank has predicted that Russia's GDP would grow by 0.5% to 2.5% in 2024 and by 1.5% to 2.5% in 2025.
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