INSUBCONTINENT EXCLUSIVE:
said Friday.The volume of incoming payments processed through the Central Bank's payment system rose by 8.8% compared to the average level
of the fourth quarter of 2024
When excluding sectors such as mining, petroleum products and public administration, the increase was even more pronounced at 11.4%.All
major industry groups witnessed growth, with the most substantial uptick coming in sectors driven by investment demand."Part of the
substantial increase in receipts in certain industries is likely due to more active advance payments for government contracts at the
beginning of the year," Interfax quoted the Central Bank as saying in an update.The Central Bank warned that the positive results should be
treated with some caution as these payments are redistributed over the calendar year, so the nominal growth in January payments cannot be
Nevertheless, the significant increase in receipts in January still supports the conclusion of noticeable economic growth.The strong inflows
mirror other surprising positive results.Prime Minister Mikhail Mishustin reported to President Vladimir Putin last week that the economy
well ahead of the 50 no-change benchmark, S-P Global reported last week.Economists are watching these economic indicators closely amid a
middle of this year.More recently, a report claimed that the state has forced banks to channel hundreds of billions of rubles into
just how bad it will be, or if the problems will be severe enough to push Putin into calling an early halt to the war in Ukraine.This
article first appeared in bne IntelliNews.
