NEWSWATCH: “World Bank Improves Russia Economic Outlook, Sees 1.5 Percent GDP Growth in 2017” – Reuters

World Bank Building

… the World Bank said …. Russian gross domestic product will contract by 0.6 percent … oil prices are projected to recover to an average of $55 per barrel in 2017 [and] the Russian economy is expected to bottom out in the second half of this year. The World Bank sees it growing by 1.5 percent in 2017 and 1.7 percent 2018. … higher oil prices would have a positive impact on Russia’s domestic demand, in turn spurring investment activity …. [but]  sanctions … and tough conditions for Moscow’s main trading partners could [create complications] … Another potential problem lies in Russia’s depleting fiscal reserves. … which will increase fiscal sustainability risks …. ‘The vulnerability of the economy to external shocks requires the authorities to focus more on deepening structural reforms’ ….

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