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World Bank: Russia growth forecast to 1%

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Christian Fernsby ▼ | October 9, 2019
Russia
Russia   The World Bank’s revision of Russia’s gross domestic product growth

The World Bank said it has lowered Russia’s economic growth forecasts for this year to 1% from 1.2%, revising down the country’s economic outlook for the fourth time so far this year.

Topics: Russia

The World Bank’s revision of Russia’s gross domestic product growth forecast brings it closer to the assessment of the Bank of Russia that lowered GDP growth outlook to 0.8-1.3% last month.

“The slowdown stems from multiple factors, which are compounded by the continuation of international economic sanctions," Reuters cited the World Bank as saying.

The World Bank, in a report on Europe and Central Asia, also said it has lowered Russia’s 2020 GDP growth to 1.7% from 1.8% predicted earlier.


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