Russian Central Bank Chief predicts economic growth in Russia

Russia’s economic growth rates will stabilize at the level of 1.5-2% even if the oil price goes down, Russia's Central Bank Chief Elvira Nabiullina said.

"The potential economic growth amount to 1.5-2% if there are no structural transformations. How fast we will reach this potential growth rate (level) depends on the oil price, growth may be faster, but whatever the price of oil, without structural transformation we’ll stabilize at the economic growth level of 1.5-2%," TASS cited her as saying.

Nabiullina added that the dependence of Russia’s economic growth rates on the oil price is not very high.