Russian economy has overcome short-term slump caused by mobilisation – central bank

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Published: Dec 7, 2022, 16:21 UTC

MOSCOW (Reuters) - Russia's economy has overcome the short-term slump caused by President Vladimir Putin's partial mobilisation order, but the disinflationary impact it had in reducing consumer demand has practically disappeared, the central bank said on Wednesday.

Policeman stands guard at main entrance to Bank of Russia in Moscow

MOSCOW (Reuters) – Russia’s economy has overcome the short-term slump caused by President Vladimir Putin’s partial mobilisation order, but the disinflationary impact it had in reducing consumer demand has practically disappeared, the central bank said on Wednesday.

Inflationary risks are set to prevail in the medium term, the bank said in an analytical report on macroeconomic and market trends, pointing to increases in budget spending and private lending.

(Reporting by Elena Fabrichnaya and Alexander Marrow)

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