---
title: "The budget's contribution to demand this year and the next two years turned out higher than the… — Эльвира Набиуллина — DecisionGateway"
description: "statement by Эльвира Набиуллина, recorded recently — verbatim quote and source citation."
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statement

# **The budget's contribution to demand this year and the next two years turned out higher than the Central Bank expected.**

A statement by [**Эльвира Набиуллина**](https://dgw.tmarket.io/actors/01a1bff7-ec46-7025-a495-bca65c7131cb). Statements are as reported by the cited publishers — not verified by DecisionGateway.

> *Его вклад в спрос в этом году и в следующие два года оказался выше, чем ожидали в ЦБ.*

thebell\_ioPublished 2026-11-09 [ Read source](https://t.me/thebell_io/39813)

[**Эльвира Набиуллина dossier **](https://dgw.tmarket.io/actors/01a1bff7-ec46-7025-a495-bca65c7131cb)

## **Related claims**

[**Given the budget advances at the start of the year, there is every chance of fitting into the Bank of Russia's forecast, though closer to its upper bound of 11-12% for December.**truecon · prediction](https://dgw.tmarket.io/claims/01a1d10b-0f86-7f4f-9e1c-3695ed49a559) [**By the end of the year, the Central Bank's forecast for the growth of cash in circulation will most likely come true: plus 3.7 trillion rubles, to 23.1 trillion rubles.**thebell\_io · prediction](https://dgw.tmarket.io/claims/01a1cb88-a5b9-7591-8260-2bfd4e04707f) [**For January–September 2026, the supply of currency on the domestic market grew faster than demand.**Центрального банка · statement](https://dgw.tmarket.io/claims/01a1cb4b-1cff-7c44-98a3-b33a83971280) [**Credit will also grow in a restrained manner: in 2027 at roughly the same pace as this year.**Эльвира Набиуллина · prediction](https://dgw.tmarket.io/claims/01a1cb89-ec57-7a6a-b748-905dc2a10de5) [**Growth defied RBI predictions.**THnewsupdates · statement](https://dgw.tmarket.io/claims/01a1c6ad-cc4e-71ce-aaae-5bbf00184571) [**The budget apparently closed October better than expectations again, judging by liquidity flows: despite insignificant borrowing (₽0.13 trillion), deposits in banks grew by ₽0.66 trillion, and another ₽0.2 trillion went to budget accounts at the Central Bank.**truecon · statement](https://dgw.tmarket.io/claims/01a1d107-ce8e-7526-a176-8ef0bfa23ca0)

## **More claims by Эльвира Набиуллина**

[**The head of the Central Bank named the attacks on refineries as the first reason why the regulator stopped lowering the rate.**statement](https://dgw.tmarket.io/claims/01a1cb8f-9f07-7d17-a6b9-5ce049638c13) [**Credit will also grow in a restrained manner: in 2027 at roughly the same pace as this year.**prediction](https://dgw.tmarket.io/claims/01a1cb89-ec57-7a6a-b748-905dc2a10de5) [**Each of the reasons is weighty on its own, and together they mean that one must not rush to lower the rate, otherwise interest rates in the economy and prices will rise.**statement](https://dgw.tmarket.io/claims/01a1cb89-ec35-70fc-bf8a-385c884374b9) [**Inflation expectations declined in the first half of the year and then rose due to objective reasons.**statement](https://dgw.tmarket.io/claims/01a1cb89-ec02-74d2-9862-cea354aa0129) [**Room to lower the rate will open as capacity is restored, but not earlier than that.**prediction](https://dgw.tmarket.io/claims/01a1cb89-ebdd-7190-bf1e-4be3d585bbec)

[All claims by Эльвира Набиуллина](https://dgw.tmarket.io/claims?claimant_id=01a1bff7-ec46-7025-a495-bca65c7131cb)

[All claims](https://dgw.tmarket.io/claims)

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```

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