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Главная \ News \ The European Commission lowered its growth forecast for the Russian economy in 2019 to 1.5%

The European Commission lowered its growth forecast for the Russian economy in 2019 to 1.5%

The European Commission, in its spring economic outlook, somewhat reduced its outlook for economic growth rates worldwide, including Russia. According to the forecast, the growth rate of the Russian economy in 2019 will be 1.5%.

Similarly, the EC lowered its growth forecasts for the EU and the euro area. The eurozone economy in 2019 will grow by 1.2% (compared with 1.9% in the autumn forecast). In 2020 this figure will be 1.5% (1.7% in the autumn forecast). For 27 EU countries (without the UK), the forecast will be respectively 1.4% in 2019 (2% in the autumn forecast) and 1.7% in 2020 (1.9% in the autumn forecast).

 

Source: www.fingazeta.ru

News
The OECD predicts acceleration in the global economy and a slowdown in the domestic Russian economy. The decline in household incomes and the contraction of consumer demand may become an additional brake on the recovery of the Russian economy.
According to Rosstat, the economic downturn in Russia in 2020 amounted to 3.1% – significantly better than expected.
The Deputy Chairman of the Bank of Russia Alexey Zabotkin emphasized that the potential economic growth rates do not depend on monetary policy, they are influenced by demography, labor force, and the efficiency of institutions.
The Russian economy continues to lose its attractiveness in the eyes of large transnational businesses as consumers become poorer and the government continues the sanctions war with the West.

The Washington Institute of International Finance (IIF) sharply improved its forecast for the Russian economy. Its experts revised estimates of the fall in GDP in 2020 from minus 4.8% to 3.6%.

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