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The World Bank Reported On Russian Economy
October 30, 2017 17:04


The Russian economy has recovered after recession and is showing moderate growth rates this year. This was said by the World Bank’s report.

According to the forecast of the international organization, Russia’s GDP will increase by 1.7 percent in 2017 and by 1.8 percent in 2018. “The medium-term growth forecast for Russia has slightly increased after a faster recovery in demand at the domestic market, than it was expected, and higher exports” - the experts at the World Bank noted.

Oil prices and high demand at the domestic market created opportunities for the people from neighboring countries coming to work in Russia, as the document specifies. However, long-term economic growth needs structural reforms. Experts see the risks in low oil quotations and possible negative consequences of the expansion of sanctions.

On October 10 the International Monetary Fund (IMF) improved its forecast for Russia’s GDP growth from 1.4 to 1.8 percent in 2017. It is expected that the Russian economy will increase by 1.6 percent next year.


Author: Anna Dorozhkina


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