November 8, 2018 / 1:10 PM / 9 days ago

Russian cenbank chief: VAT increase to impact growth, inflation

MOSCOW, Nov 8 (Reuters) - A higher value added tax will add 1 percentage point to Russia’s inflation rate next year and will have a short-term adverse impact on economic growth, Russian central bank governor Elvira Nabiullina said on Thursday.

Nabiullina also said that the central bank’s current key rate was close to neutral level. (Reporting by Andrei Ostroukh; writing by Olzhas Auyezov; editing by Jason Neely)

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