The largest US financial institution Morgan Stanley has improved the outlook for the Russian economy. This is with reference to these Financial Corporation reports “Interfax”. According to the new forecast adjusted, in 2015 Russia’s GDP will fall by 4.2 per cent while the earlier forecast a decline of 5 percent in 2016 – 1.2 per cent (instead of 1.8 percent).
Morgan Stanley also revised its forecast for oil prices (in fact it is because of this expectation has been adjusted for Russia’s GDP). The Bank expects that this year it will cost an average of $ 62 per barrel in the next – 67. The bank’s analysts also point out that the weakening of the ruble has allowed Russia to improve export performance. By the end of the year the central bank will lower its key rate to 9 percent, according to Morgan Stanley (at the moment it is 11.5 percent).
In the June forecast of the World Bank also expects mitigation forecast of Russia. The organizations believe that in 2015, Russia’s GDP will decline by 2.7 percent instead of falling 3.8. The 2016 growth forecast to 0.7 percent, in 2017 – by 2,5.
Economic Development data show that in May, the country’s GDP fell by 4.9 percent compared to May 2014 . Since the beginning of the year the economy contracted by 3.2 percent. Office predicts that in 2015 GDP will fall by 2.8 percent. In 2016 it is expected to increase by 2.3 percent.
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