- The World Bank downgrades its economic growth forecasts for Russia
Market news
6 April 2016
The World Bank downgrades its economic growth forecasts for Russia
The World Bank downgraded its economic growth forecasts for Russia on Wednesday. The bank expects the Russian economy to contract 1.9% in 2016, down from its December estimate of -0.7%, and to expand 1.1% in 2017, down from its December forecast of 1.3%.
The World Bank noted that the recovery of the Russian economy would be long and difficult, due to adverse external environment.
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