An economic forecast through 2028 was presented for the Nizhny Novgorod Region.

      15 October 2025 09:49 Economy — As part of the "zero" reading of the Nizhny Novgorod Region's budget, a socio-economic development forecast for 2026 and the planned period 2027-2028 was presented. The document was prepared on the basis of the parameters of the all-Russian forecast through 2028, taking into account the current conjuncture, Deputy Governor Yegor Polyakov said on his Telegram channel.

      By the end of 2025 the regional economy is expected to be close to the 2024 level, which corresponds to nationwide trends. The deputy governor emphasized that the dynamics in 2026 will be determined by the level of the Bank of Russia's key rate, the rate of inflation, the planned increase in the tax burden, as well as non-economic factors. An additional impulse may come from the release of pent-up consumer demand that formed due to a reduction in consumer lending.

      Polyakov noted that if the Central Bank implements its intentions to lower the key rate and keep inflation within a 5–6% corridor, economic growth in 2026 could reach up to 2%.

      The industrial production index for 2026 is estimated in the range from 98% under the conservative scenario to 102.7% under the baseline scenario. Retail turnover in 2026 may increase by 3%. In the medium term an annual increase in real wages is expected. In 2026 it is forecast at 2.9%. Growth in average per capita monetary income of the population in real terms is planned at 102.6%.

      According to the deputy head of the region, the government of the Nizhny Novgorod Region recognizes the forthcoming challenges and the available tools to smooth negative trends. He stressed that the key task is to increase the efficiency of resource use, including financial resources.

      Based on the forecast indicators, a draft regional budget for the medium term has been formed. For 2026, excluding targeted federal funds, revenues are projected at 294.9 billion rubles, which is higher than the 2024 figure but lower than the 2025 level. Planned expenditures amount to 316.8 billion rubles.

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