Business · Economy · 2 days ago
Russia’s central bank sees signs economic growth has passed its low point
Russia’s central bank says the economy continued to grow in the first half of 2026.
Deputy governor Alexei Zabotkin said growth may have passed its low point during that period.
That assessment depends on September economic data not bringing major surprises.
He expects growth to gradually increase as production capacity expands and productivity improves.
The World Bank forecasts growth of 0.8% in 2026 and 0.7% in both 2027 and 2028.
The central bank has kept its key interest rate at 14% and expects inflation to return to its 4% target in 2027.
The next indication of whether growth is picking up will come from the September data.
Russia’s central bank sees signs that economic growth passed its low point in the first half of 2026.
Deputy Governor Alexei Zabotkin said the data for the first half confirmed that growth was continuing.
He said growth could gradually pick up as production capacity expands and productivity improves.
The assessment depends on September data not bringing major surprises.
- Who
- Russia’s central bank, through Deputy Governor Alexei Zabotkin.
- What
- The bank sees signs that economic growth passed its low point in the first half of 2026.
- When
- The assessment was reported on October 9, 2026.
- Where
- Russia.
- Why
- First-half data confirmed that economic growth was continuing.
This story does not have two clearly opposing sides.
If the “hard” data for September do not bring any major surprises, it will be possible to state that the pace of economic growth passed its low point in the first half of 2026.
Data confirmed the central bank’s view that economic growth in Russia was continuing.
The central bank said its assessment depended on the “hard” data for the month bringing no major surprises.
Deputy Prime Minister Alexander Novak said Russia’s GDP growth would accelerate to 2.4% by 2029.
- Low point
- First half of 2026
- Deputy governor
- Alexei Zabotkin
- World Bank forecast for 2026
- Russia’s economic growth: 0.8%
- Key rate
- 14% after the central bank kept it unchanged on September 11
Sources
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