Sberbank forecasts Russia's GDP growth at 1.2%-1.7%, inflation at 4.5%-5% in 2027

MOSCOW. Nov 12 (Interfax) - Sberbank forecasts that the Russian economy will grow 1.2%-1.7% in 2027 and predicts inflation at 4.5%-5%, it said in a presentation on the bank's new development strategy to 2029.

CFO Taras Skvortsov said at the bank's Investor Day that Sberbank expected economic activity to recover gradually in 2027, following a decline in inflation and a slight easing of monetary policy.

Over the next three years, Sberbank expects the economy to follow a moderate development trend, with average annual GDP growth of 1.5%.

"We also expect inflation to slow down in 2027 and stabilize around the values targeted by the regulator in 2028-2029. This forecast will allow the Central Bank of Russia to lower the key rate to below 10% as early as 2028," Skvortsov said.