Page 51 - RusRPTJul23

The CBR does not see signs of overheating of the Russian economy, but such risks exist and it is necessary to pay attention to it, Elvira Nabiullina, head of the regulator, said at a press conference following a meeting of the regulator's board of directors. "Overheating is the situation when GDP is above its potential, and in the event that demand grows faster than supply, when GDP has reached its potential. Inflation serves as an indicator of such overheating, when it rises above a key level. Now we do not see it, we cannot say that the economy is now overheated, but the risks of such overheating exist, and we need to pay attention to it," she said.
51 RUSSIA Country Report July 2023 www.intellinews.com