MOSCOW, September 16. /TASS/. It is highly likely the outlook on Russia's GDP dynamics for 2022 that is expected to be presented in October, will be upgraded, Central Bank Governor Elvira Nabiullina told a press conference following the meeting of the regulator's board of directors on the key rate on Friday.

"We will consider all [current] trends in the revised outlook that will be presented in October. It is highly likely the GDP outlook for this year will be upgraded," she said.

Earlier on Friday the regulator said in a press release following its board meeting on the key rate that GDP contraction by the end of 2022 might be closer to the upper bound of the 4-6% range forecasted in July, adding that Q2 GDP and high-frequency indicators point to stronger dynamics of business activity than the Central Bank expected in July.