NEW YORK, Sept 13 — Russia has significantly raised its inflation forecast for the next two years and expects a much weaker rouble rate against the US dollar, according to...
NEW YORK, Sept 13 — Russia has significantly raised its inflation forecast for the next two years and expects a much weaker rouble rate against the US dollar, according to macroeconomic forecasts prepared by the economy ministry, as the costs of fighting the war in Ukraine mount.
The economy ministry raised its 2023 inflation forecast to 7.5 per cent from the 5.3 per cent forecast published in April, and also raised its 2024 forecast to 4.5 per cent from 4.0 per cent, according to economy ministry documents, which have been submitted to government as a draft forecast. After the rouble breached 100 per US dollar last month before strengthening, the economy ministry now forecasts a much weaker rouble.
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