High Russian growth ‘extremely unlikely’ – Bank of Finland study
Reports shows labour shortages, capacity constraints are beginning to bite
The Bank of Finland’s institute for emerging economies (Bofit) expects the growth seen in Russia over recent months to slow over the coming years.
Bofit revised its growth forecast for the country in 2024 to 3.5%, but it expects the figure to fall to 1% in 2025 and 2026.
In the institute’s view, Russia’s recent economic upturn has been caused by “robust consumer demand” and “capital investment in military production” – and that it will ultimately be a blip on an otherwise downward trajectory.
Conti
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