The World Bank improved the forecast for the Russian economy in the coming years. The organization’s experts believed that Europe and Central Asia have adapted to lower prices for oil and metals
In the World Bank’s forecast, which was published in the evening on June 7 in the US, an assumption that Russia’s GDP in 2016 will decrease by 1, 2%, will grow by 1.4%, and 2018 in 2017 – by 1.8%. All three indicators WB changed its forecast upward, pointing out the influence of the geopolitical risks associated with the situation in Ukraine.
In April, the World Bank, on the contrary, worsened the forecast of Russia’s GDP, predicting a drop for the year 1.9%. Experts previously predicted decline in GDP of 0.7%, referred to the low oil prices. Two months ago, they believed that the average barrel of Brent oil costs in 2016 $ 37 dollars.
At the same time, assess the situation in Europe and in Central Asia as a whole, the World Bank experts noted that the countries of the region have adapted to low prices for oil, metals and agricultural products.
As for other countries, the Chinese economy, according to World Bank experts, will grow in 2016 by 6.7%, which is 0.2% lower than last year . As for Brazil, it also expects a continuation of the recession
The US economy by the World Bank predicts will grow by 1.7%, while the eurozone economy -. 1.6%. In both cases the experts’ forecasts were lower than in April.
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