Extension of OPEC deal aimed at aligning energy prices dynamics, Kremlin saysBusiness & Economy May 23, 15:41
Kremlin unveils Putin-Macron talks agendaRussian Politics & Diplomacy May 23, 15:16
Syrian opposition faction leader warns Geneva talks may break downWorld May 23, 15:10
Russia's top diplomat says Syria settlement requires Iran’s participationRussian Politics & Diplomacy May 23, 14:38
Four men and a dog: How Papanin’s team conquered the North PoleSociety & Culture May 23, 14:20
World Bank predicts investments in Russia’s fixed assets to surge to 2% in 2017Business & Economy May 23, 14:16
Manchester shopping mall evacuated following terror attackWorld May 23, 13:44
Lavrov warns Syria’s plight will drag on if efforts to divide it continueRussian Politics & Diplomacy May 23, 13:41
Forces behind Manchester attack seek to spread panic across globe, Russian think tank saysRussian Politics & Diplomacy May 23, 13:31
MOSCOW, September 24. /ITAR-TASS/. The World Bank has lowered its outlook for Russia’s GDP growth amid persisting geopolitical tensions, the international financial institution said in a report on Wednesday.
The outlook was lowered to 0.5% in 2014 from the previous forecast of 1.1% based on the assumption that geopolitical tensions would subside.
The World Bank’s updated outlook predicts low rates of Russia’s GDP growth expected at 0.3% in 2015 and 0.4% in 2016.
The World Bank said that a return to higher growth in Russia would depend on private investment growth and an increase in consumer sentiment.
The World Bank’s GDP outlook for Russia coincides with the Russian Economic Development Ministry’s forecast for this year but is lower for 2015-2016. Russia’s Economic Ministry predicts GDP growth at 1.2% in 2015 and 2.3% in 2016.
The World Bank’s baseline scenario for Russia excludes a further escalation of geopolitical tensions or additional sanctions.
The World Bank also predicts Russia’s inflation to reach 8% in 2014 before slowing down to 6-7% in 2015.