The countercyclical nature of the ruble’s strengthening curbs the risks of overheating the national economy. In 2024, the Central Bank of the Russian Federation will begin to gradually connect all banking organizations to the digital ruble platform, follows from the report of the Central Bank.
The drafters of the document also note that it will be possible to ease a number of restrictions on the freedom of movement of capital only on a reciprocal basis. At the same time, experts do not rule out the possibility of a global crisis similar in scale to the period of 2007-2008.
Recall that in the report on the main directions of Russia’s monetary policy for 2023–2025, the Central Bank presented the most likely development scenarios. The main task of the state is to keep inflation within 4 percent. This will take more than a year and a half – until 2024, the Central Bank will adjust the key rate.
In 2023, the regulator predicts a sharper decline in GDP than last year, as well as the difficulty of the national economy against the background of the global crisis. The country’s economy will pick up the previous growth rates by 2025.
