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

No Economic Growth for Russia in 2015, UN Says
20.01.2015 17:50
No Economic Growth for Russia in 2015, UN Says

Russia is going to face a zero economic growth in 2015, to say the same about the whole Commonwealth of Independent States (CIS), UN Department of Economic and Social Affairs reports.

      "In the CIS, prospects are weak with near-zero growth expected in the Russian Federation," the UN said in a World Economic Situation and Prospects 2015 release. It is also said in the release that in 2014 Latin American economies and the CIS countries experienced a sharp deceleration, while East Asian states faced only a mild slowdown and will remain the fastest-growing region globally.

      Africa's overall growth is expected to hold the line in the future, with the GDP growth of African countries reaching 4.6 in 2015 and 4.9 in 2016, compared to the earlier projected growth of 4.7 percent in 2014.

      "Many developing countries and economies in transition appear vulnerable to a tightening of global financial conditions, as well as a further aggravation of geopolitical tensions and an escalation of the Ebola epidemic," the release said.

      The Russian economy has been recently experiencing hard times due to the declining oil prices that have dropped some 40 percent from June 2014 and international sanctions for the country's biggest companies. The Russian national currency, the rouble, has recently hit historic lows amid the economic unrest.

Author: Julia Alieva

Tags: Russian economy Russian money CIS crisis  

Next Previous

You might also find interesting:

Russia Ranks Third in the World in Terms of Fintech Services Penetration
Russian Online Cinema IVI will Conduct an IPO on NASDAQ
The Highest Outflow of Foreign Money Recorded in Russia
YouDo Offers B2B Services
The Number of People Employed in the SME Sector Decreased by Almost 600 Thousand People

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Olympic Torch   Bashkiria  Russian theatres  Izhevsk  Ufa  Tula Region  Book Festival  Russian tourism  Faces of Streets Festival  Kuril Lake  Chelyabinsk meteorite  travel to Russia  Environmental Protection  Russian Monuments  Philharmonic Concerts  Energy Policy  Christmas fair  Kamchatka Territory  Life Saving  medicine  Festivals in Moscow  Laboratory Studies  Tourism Navigation  Moscow  Kamerata  Concerts in Moscow  Russian volcanos  St. Petersburg  Mercedes-Benz Fashion Week Russia  Russian regions  Barnaul  Sviyazhsk   Concerts in St. Petersburg  Rosneft  Russian churches  Political History  Russian Cinema  Exhibitions in Moscow  Yaroslavl   TNK-BP  Vladimir Voinovich  Russian ballet  Ministry of Industry and Trade  Magnitsky Act  Murmansk  Russian climate  Russian business  Exhibition Fairs  ancient coins  Fireworks 

Travel Blogs
Top Traveling Sites