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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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