The US-China trade war, if escalated, could lead to economic slowdown and even recession in Russia, analysts by theMoscow Higher School of Economics’SE Centre for Business Tendency Studies (CBTS) said in a report, according toTASS. “If the trade conflict between the world’s two biggest economies, the US and China (roughly 35% of world-wide nominal GDP, Russia – about 2%), hits the ceiling and, consequently, growth rates of the economies of mentioned countries all but certain slow down for some period, that will immediately result in a notable decline in global commodity prices and create major difficulties for the main Russian export,” the. Read more...
Russia’s economic development minister Maksim Oreshkin has said his ministry maintains its GDP growth outlook for 2019 at 1.3%,RBCreports. “So far yes,” he said when asked whether the ministry considers the GDP growth outlook for this year of 1.3% still relevant. “The data for the first quarter is preliminary and may change in both directions. We projected a weak dynamics (for Q1),” he said. Oreshkin’s statement comes after official data showed that GDP growthslowedfrom 2.7% year on year in 4Q18 to just 0.5% y/y in 1Q19. The result led some expertsto warn of a new economic crisisdeveloping in the country. Oreshkin added that he. Read more...
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