The Central Bank said the Russian economy needs a 'breather'.

The Central Bank said the Russian economy needs a 'breather'.

      This was reported by Andrey Gangan, director of the Monetary Policy Department of the Bank of Russia, in an interview with Rossiyskaya Gazeta.

      According to him, in 2023–2024 the country's economy demonstrated growth of over 4% — faster than the global average. However, almost all production capacity, logistics, infrastructure and labor resources are now engaged.

      "A pause and new approaches to increasing labor productivity are needed. Without that, all wage growth will inevitably be eaten up by inflation," the central bank representative said.

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The Central Bank said the Russian economy needs a 'breather'.

After a period of rapid growth, the Russian economy is transitioning to a more balanced pace of development.