MOSCOW, April 26 (Xinhua) -- Russia's GDP growth forecast for 2024 has been revised from 1-2 percent to 2.5-3.5 percent, the central bank said Friday in a statement.

The Russian economy grew faster in the first quarter than initially predicted and consumer activity remains high amid a significant increase in households' incomes and positive consumer sentiment, the central bank said.

The bank kept the key interest rate at 16 percent as inflationary pressures are gradually easing from a high level.

As continuously rising domestic demand outstrips the country's capabilities to expand supply, inflation will return to the target somewhat more slowly than initially predicted in February, it said. Enditem

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