The European Bank for Reconstruction and Development (EBRD) has changed its forecasts for Russian economic growth in 2012 from 4.2% to 3.1%. Forecasts for 2013 drop from 4.3% to 3.3%, RIA Novosti reports.
The Russian Ministry for Economic Development planned to improve forecasts for GDP growth in 2012 from 3.4% to 3.84%, but reduced them from 3.7% to 3.4% instead.
The total GDP of 29 states the EBRD works with should increase by 2.7% in 2012, compared with 5% in 2011. The EBRD founded in London in 1991 supports economic transitions of 29 states of the CIS< Eastern Europe, Middle Asia, Balkans and Turkey. Operations will start in the Southern and Eastern Mediterranean, Jordan, Egypt, Tunisia and Morocco this year.
The GDP growth in June 2012 dropped to 3.8%, compared with 4.2% in May.
GDP growth in Q2 dropped to 3.9%, compared with Q1. The GDP growth in the first half of 2012 totaled 4.4%.
Minister Andrey Belousov announced the figures earlier.
The Russian Statistical Service said that the GDP level of Russia in Q1 2012 totaled 13.491 trillion rubles, increasing by 4.9%, compared with Q1 2011.
