wiiw Forecast Reports
RUSSIA: 'Peak overheating’ has likely been reached
in: The Crisis is Over, but its Scarring Effects are Hindering Recovery
wiiw Forecast Report No. Spring 2024, April 2024 , pp. 113-117
Last year, GDP expanded by 3.6%, thanks largely to the boom in military production, which has had positive effects – both direct and indirect – for most of the rest of the economy. With inflation running in excess of 7% and the unemployment rate plunging to below 3%, the economy has clearly been overheating. However, the recent stabilisation of inflation suggests that ‘peak overheating’ has already been reached. Growth is projected to slip below 3% in 2024 and beyond, while inflation will gradually return to closer to the 4% target.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Russia