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European Commission Lowers Russian GDP Growth Forecast for 2019 to 1%

8 Nov 2019

• 8 Nov 08:58

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The European Commission (EC) has lowered its outlook for Russia’s GDP growth in 2019 to 1% from 1.5%, theEuropean Economic Forecast report – Autumn 2019released on Thursday reveals, according toRT. The EC has also adjusted its forecast for Russia’s GDP growth in 2020 to 1.4%, down from 1.8% as it was reported in the spring forecast. The decrease in the forecast occurred amid a global recession. Thus, the EC reduced its forecast for world GDP growth for 2019 to 2.8% from 3.1%, for 2020 – to 3.1% from 3.6% compared with its spring forecasts. In the euro zone, the forecast for GDP growth has been reduced to 1.1% from 1.2% for 2019, to 1.2%. Read more...