The World Bank expects Russia’s economy will expand moderately over the next three-year period, with growth rates are seen at 1.3% and 1.4%.
"We expect the Russian economy to grow 1.3% in 2017 and 1.4% both in 2018 and 2019. The positive terms-of-trade effect from rising oil prices, coupled with more stable macroeconomic conditions, are expected to drive this recovery," the World Bank said.
According to the report, a moderate recovery of the global economy is expected for 2017, on the back of continued solid growth by commodity importers and a pickup in commodity exporters during the year.
Nevertheless, the expected recovery in commodity exporters will be weaker than expected, reflecting longer-than-expected adjustments to low commodity prices in some countries. China’s slowdown is expected to weigh down on commodity importers’ acceleration. In 2018-19, its growth is expected to strengthen to 2.9%, the report added.
The bank also predicts investments in Russian fixed assets will increase to levels of 2% in 2017.
