The European Bank for Reconstruction and Development (EBRD) has worsened its forecast for Russia's GDP growth in 2019 from 1.5 percent to 1.1 percent, and in 2020 - from 1.8 percent to 1.7 percent, according to the bank's Regional Economic Prospects report
LONDON (Pakistan Point News / Sputnik - 06th November, 2019) The European Bank for Reconstruction and Development (EBRD) has worsened its forecast for Russia's GDP growth in 2019 from 1.5 percent to 1.1 percent, and in 2020 - from 1.8 percent to 1.7 percent, according to the bank's Regional Economic Prospects report."A growth rate of 1.1 per cent is expected for 2019, followed by 1.7 per cent in 2020. Key risks to the outlook include the possibility of more severe sanctions and a sharp fall in oil prices, which would lead to currency depreciation, impacting the already weak asset quality of the banking sector," the report says.
"The growth outlook is expected to improve slightly, starting with the second half of 2019, thanks to more supportive monetary policy and the implementation of the 13 national projects. However, private investment is likely to remain weak, given the continuing negative impact of sanctions imposed by the European Union and the United States of America, and exports are likely to be held back by the weaker global trade environment," the document adds.
