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Russia’s Central bank expects further slowdown of economic growth due to sanctions

September 12, 2014, 14:19 UTC+3
Economic growth rate will most likely drop to 0.2% in July-December and will total 0.4.% for the whole of the year
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© ITAR-TASS

MOSCOW, September 12. /ITAR-TASS/. Russia’s Central Bank (CBR) expects a further slowdown of economic growth in the period of July through to December because of the sanctions imposed on Russia by the US and the EU, says a report the CBR issued after a meeting of the Board of Directors.

“A further slowdown of economic growth is expected in Russia in the second half of this year amid the sanctions imposed on Russian companies and the persisting general uncertainty,” the report said.

Economic growth rate will most likely drop to 0.2% in July-December and will total 0.4.% for the whole of the year, it said.

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