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The World Bank downgraded the forecast for the Russian economy

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The World Bank downgraded the forecast for the Russian economy

Post by Admin on Sat Dec 19, 2015 7:10 pm

Analysts attribute this to the organization with the reduction of oil prices and higher volumes of loans that have to do Moscow in 2016.

In its forecast of the World Bank expects Russian GDP "falls" almost 0.7%. Previously, it was about one-tenth. The fall in oil prices will affect the performance of the Russian financial market and lead to higher inflation. The fact that the base scenario is based on the expectations of the average annual price for 2016 minutes to $ 53 a barrel, now this figure has fallen. Keep the pressure on the ruble, and higher risks of inflation will force the central bank to tighten Russia's monetary policy. Decrease the creditworthiness of businesses and households in the country. So says a leading economist of the World Bank's Russia Birgit Hunsley.

In 2017 we can expect lower growth, it will not exceed 1.3 percent of GDP while maintaining sanctions and low oil prices. The situation on world markets could lead to further revision of the figures forecast.

Earlier, President Putin said that the Russian economy has passed the peak of the crisis, and Prime Minister Medvedev has called a realistic growth forecast for next year at the level of one percent.

Oil prices on world markets, meanwhile, was almost one and a half times compared to the price on the basis of which its forecasts made in the Russian government. On the eve of a trend reversal in the negative direction and found the head of Economic Development of Russia Alexei Ulyukayev.

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