LIMA (Sputnik) – "We are retaining our goal at 4 percent for 2017. For the following year our [inflation] forecast is 5.5-6.5 percent. We think that this goal is achievable without excessive downward pressure on the economy," Nabiullina told reporters.
On Wednesday, the Russian Ministry of Economic Development reduced its baseline forecasts for inflation in Russia for the years of 2016 and 2017 to 6.4 and 6 percent respectively.
The Russian economy declined in late 2014 following a drop in global oil prices and several rounds of anti-Russia sanctions imposed by the West over Moscow's alleged involvement in the Ukrainian conflict. The ruble lost about half of its value against the dollar in the same period.
In January, the Russian government unveiled an anti-crisis plan to stabilize and improve the country's economy by 2017.
