Heated Stagflation: Which scenario will shape the cooling of the Russian economy?
In the summer, the Russian economy showed signs of a long-awaited slowdown. The Central Bank is linking hopes for reducing inflation to the slowdown in growth, which should follow the increase in the key rate and the reduction of preferential lending. At the same time, Rosstat has revised its estimates of previous growth: now it is believed that in 2023, industrial production grew by 4%, and in the first half of 2024, by 5% year-on-year.