The Central Bank of the Russian Federation lowered its forecast for global economic growth

The Central Bank of Russia lowered its assessment of global economic growth in its updated forecast. This was announced on April 25 by the head of the Central Bank of the Russian Federation, Elvira Nabiullina, at a press conference.

"Lower global demand will lead to lower commodity prices, which is reflected in the adjustment of the forecast oil price, we have reduced it by $5 per barrel this year," Nabiullina stressed.

She added that the forecast for export volumes has also been lowered. According to her, the dynamics of imports will be restrained due to tight monetary policy.

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A day earlier, a report from the International Monetary Fund (IMF) reported that increased trade tensions in the world pose significant risks to global economic and financial stability. The report also notes that a change in the economic situation may particularly affect emerging markets.

On April 9, Nabiullina stated that the current changes in world trade can be called tectonic. She noted that it is difficult to predict how they will affect the global economy and Russia in particular. According to the head of the Central Bank, this is a new significant risk that should be taken into account.