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World Bank: Inflation in Russia in 2018 remained low, economy grew despite sanctions

In their June report, the World Bank analysts forecast the growth of Russian economy at 1.5% in 2018, same as in 2017.
The growth rate of the Russian economy increased in 2018, while inflation remained low, the World Bank said in a report released on Tuesday.

“Although economic sanctions tightened, Russia experienced relatively low and stable inflation and increased oil production. As a result of robust domestic activity, the Russian economy expanded at a 1.6% pace in the year just ended”, according to “Global Economic Prospects. Darkening Skies” the January 2019 World Economic Outlook by the World Bank.

In their June report, the World Bank analysts forecast the growth of Russian economy at 1.5% in 2018, same as in 2017.

According to the World Bank, Russia and other oil exporters “maintained steady growth in 2018, supported by a rise in oil prices”.


Source: www.tass.com
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The most popular investment instruments for Russian citizens are savings accounts in banks, foreign

currency, real estate, life insurance and cryptocurrencies.

The real disposable income of Russians in the third quarter fell by almost 5% after a record drop of

8.4% in the second, Rosstat reported.

In September 2020, the monthly increase in consumer prices (as estimated seasonally adjusted) decreased to 0.25% compared to 0.38% in August, according to the next release of the information and analytical commentary “Dynamics of consumer prices”.

Consumer demand in the first seven months of 2020 in Russia decreased due to the coronavirus pandemic by an average of 6.7% relative to the result of January-July 2019.
Net capital outflow in January-August 2020 increased 1.7 times compared to the data for the same period last year – from $20 billion to $34.8 billion.
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