MOSCOW, April 26 (Xinhua) -- Russia's GDP growth forecast for 2024 has been revised from 1-2 percent to 2.5-3.5 percent, the central bank said Friday in a statement.
The Russian economy grew faster in the first quarter than initially predicted and consumer activity remains high amid a significant increase in households' incomes and positive consumer sentiment, the central bank said.
The bank kept the key interest rate at 16 percent as inflationary pressures are gradually easing from a high level.
As continuously rising domestic demand outstrips the country's capabilities to expand supply, inflation will return to the target somewhat more slowly than initially predicted in February, it said. ■
