The Bank of Russia Agenda for Economic Research was first published in 2021. The second, updated version was released in 2023 and covered the period up to 2025. You are now looking at the new, third version of the document, which sets out the outlook through 2028. The updated Bank of Russia Agenda for Economic Research maintains continuity with the research agenda outlined in the previous version. That said, new challenges and risks have emerged in recent years for the global and Russian economies, which have undergone the period of initial adaptation to the shocks of recent years. High uncertainty persists. All this needs to be taken into account in monetary and macroprudential policies and raises new research questions.