Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

WB Downgrades 2013 GDP Forecast
18.12.2013 21:02
WB Downgrades 2013 GDP Forecast
Photo Credit:

The World Bank has downgraded its 2013 GDP forecast for Russia to 1.3 percent in a move that reflects flat demand and production output, says Vedomosti.

      According to the business daily, the international financial institution dropped its expectations from 1.8 percent from its September estimate.

      The change reflects a deteriorating macroeconomic situation in the country.

      In June 2013, Alexey Ulyukayev replaced Andrey Belousov as Economic Development Minister, but has so far failed to kick-start the economy.

      According to the IMF, Russia’s prospects “have been dampened by a weak external environment, some acceleration of capital outflows and declining equity prices and subdued investment”.

      Industrial output has been flat within the past ten months, and the privatization campaign announced earlier by the Medvedev cabinet has stalled amid a bleak economic outlook and reluctance of state corporations’ management to share their revenues and power with foreign players.


Author: Mikhail Vesely

Tags: Russia economy Russian GDP    

Next Previous

You might also find interesting:

Comment on our site

RSS   twitter      submit

Omsk  Alexander Rodchenko  Mercedes-Benz Fashion Week Russia  Installations  Veliky Novgorod  Vitaly Churkin  Temryuk  Barnaul  Exhibitions in Moscow  Photofest  Primorye Region  Dasha Gauser  Volgograd  Department of Education of Moscow  Siberia  Anastasia Zavgorodnyaya  Elvis Presley  Seliger Lake  Arctic Circle  Moscow Cuisine  Semyon Dezhnyov  Archeology  St. Petersburg  Russian economy  Russian Cinema  Science  Giulio Di Sabato  Russian television  Republic of Tatarstan  Russian circus  Russian tourism  Kamchatka  Moscow  Concerts in Saint Petersburg  Krasnodar Territory  Russian business  corruption  Russian law  St. Petersburg Parks   Sundance  Textiles  Olga Rozanova  Russian science  Victory Day  Russian holidays  cars in Russia  Russia's foreign debt  World Chess Olympiad  Russian startups  Russian scientists 

Travel Blogs
Top Traveling Sites