Press review: Trump terrifies Western elites and Alibaba eyes partnership with SberbankPress Review January 18, 13:00
Kremlin knows nothing about Snowden’s intentionsRussian Politics & Diplomacy January 18, 12:50
Russian lawmaker: McCain confirms US recognizes Russia’s growing world roleRussian Politics & Diplomacy January 18, 12:42
Kremlin: Issue on Crimea status not matter of discussion for MoscowRussian Politics & Diplomacy January 18, 12:31
Russia views Austria’s OSCE chairmanship program as pragmaticRussian Politics & Diplomacy January 18, 12:16
New movie marks return of Russian cinema to India’s silver screens after 25-year hiatusSociety & Culture January 18, 12:09
Senator says Russia should not abide by ECHR ruling on adoption ban for USRussian Politics & Diplomacy January 18, 12:00
Stunning Miss Universe 2017 candidatesSociety & Culture January 18, 11:46
Chinese Foreign Ministry: Beijing ready to boost cooperation with MoscowWorld January 18, 11:11
WASHINGTON, January 16 (Itar-Tass) - To Russia, the past year may be marked by a steep decline in GDP growth rate, according to a new study published by the World Bank (WB) on Tuesday.
According to the study, the 2012 GDP growth rate for the Russian Federation is expected to be 3.5 percent, as against 4.3 pct the year before.
Economic growth in Russia -- the largest country of the Europe-Central Asia region -- is expected to slow down in 2012 to 3.5 percent, the study says, mentioning unfavourable conditions as the main causes of such a development of events: drought which affected agricutlrue, the growing inflation, as well as the weakness of the world economy.
The WB study emphasizes that despite the expected high prices of oil Russia's GDP will grow slightly in the near future. In this connection, as the authors of the study suppose, taking into consideration the budget deficit in non-fuel sectors of the economy, the government will encounter difficulties with augmenting state investments.
Nevertheless, WB experts' view is that the situation in the Russian economy will be gradulaly improving. Their forecast is that GDP growth will be 3.6 percent this year, 3.9 percent next year, and 3.8 percent in 2015.