Dynamics of Russia's GDP are in upper range of CBR's forecast for growth of 0.5%-2% in 2023- deputy governor

The dynamics of Russia's GDP are in the upper half of the range of the April forecast of the Central Bank of Russia (CBR) for growth of 0.5%-2% in 2023, Central Bank Deputy Governor Alexei Zabotkin told reporters, Azernews reports, citing Interfax.

"Dynamics are developing, probably not closer to the upper boundary of the range, but in the upper half," Zabotkin said on the sidelines of the Financial Congress of the Bank of Russia in St. Petersburg.

Zabotkin recalled that the CBR would update the medium-term macroeconomic forecast following the upcoming meeting of the regulator's board of directors on July 21.

Prime Minister Mikhail Mishustin, at a meeting with President Vladimir Putin this week, said that growth in Russia's GDP could exceed 2% in 2023, absent any force majeure circumstances.