Reshetnikov: leading indicators indicate signs of cooling of the Russian economy
The Russian economy continued to grow in 2024, but leading indicators indicate signs of its cooling, said the Minister of economic development of the Russian Federation Maxim Reshetnikov, speaking at a meeting of the Committee on economic policy of the state Duma.
24.02.2025
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📝 Summary
The Russian economy continued to grow in 2024, but leading indicators indicate signs of its cooling, said the Minister of economic development of the Russian Federation Maxim Reshetnikov, speaking at a meeting of the Committee on economic policy of the state Duma.
According to Reshetnikov, growth ceased to be frontal, its pace slowed down in a number of industries. At the same time, the volume of orders from business is decreasing, lending is shrinking due to tightening monetary policy, raising the key rate and a number of other measures. According to Reshetnikov, this constrains not only demand, but also investment. “The growth of rates leads to an increase in the cost of servicing and public debt, and to servicing interest risk under preferential lending programs,” the minister said. He added that "the government is now streamlining these issues." In December last year, Reshetnikov noted that the consequences of the policy of cooling the Russian economy will begin to be felt from January-February 2025, this will be the main challenge for Russia in 2025.
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