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World Bank upgrades its forecast for the Russian economy

18 Nov 2016

• 18 Nov 10:55

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On Nov. 9, the World Bankreleasedits latest forecast for the Russian economy. The prediction was better than expected, showing the Russian economy shrinking by 0.6 percent in 2016, then rising by 1.5 percent in 2017 and by 1.7 percent in 2018. In June, the World Bank predicted that Russia’s GDP would fall by 1.2 percent in 2016. The latest World Bank forecast is close to the most recentestimatesby Russia's Ministry of Economic Development, which show the country's GDP shrinking by between 0.5 percent and 0.7 percent in 2016. According to the Bank’s report, Russia’s economic decline has slowed considerably due to growth in such. Read more...