Zabotkin announced that the Russian economy is in a state of full employment

Brief retelling from RIA II

The Russian economy has been at full employment for three years now.

GDP growth for the year will be slightly less than last year due to the fact that growth opportunities are determined by the rate of productivity growth in the economy.

The temporary retirement of manufacturing and logistics capacity in a number of industries is another reason for more moderate economic activity this year.

MOSCOW, October 5 - RIA Novosti. The Russian economy has been in a state of full employment for the third year now, which is affecting its growth rate, said Deputy Chairman of the Bank of Russia Alexey Zabotkin.

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“GDP growth for the year as a whole will be slightly less than last year. There are two reasons for this. Firstly, the economy has been in a state of full employment for the third year now, and this means that growth opportunities are almost entirely determined by how quickly productivity in the economy grows,” he said at parliamentary hearings in the Federation Council on the parameters of the draft federal budget.

According to Zabotkin, such growth always takes longer than growth due to an increase in the number of employees. Nevertheless, productivity is growing, including due to high growth in investment, he emphasized.