icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Russian economy to perform better than expected this year – World Bank

Russian economy to perform better than expected this year – World Bank
The World Bank has improved its economic outlook for Russia, predicting that the country’s GDP will grow 3.2% in 2021. In March, the bank’s analysts had put Russian economic growth at 2.6% this year.

The forecast for 2022 has not changed, with gross domestic product growth expected to be 3.2%.

According to the report, the baseline scenario assumes a gradual decline in Covid-19 infections.

The World Bank’s projection is better than that of the Russian Ministry of Economic Development and Trade, which expects the nation’s GDP to grow 2.9% by the end of the year. 

Also on rt.com Putin outlines national priorities to restart economy & raise living standards as Russia emerges from Covid crisis

“According to our forecast, the recovery in economic activity, which will be based on the growth of household consumption and investment growth, will be facilitated by the revival of the global economy, higher oil prices and soft monetary conditions in the domestic market in 2021,” the World Bank economists said.

Apurva Sanghi, lead economist for Russia with the World Bank, said that the country’s government has done a lot “to ensure macro-fiscal stability, which has led to an improvement in the fiscal position.”

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts