The world Bank improved the Outlook for the Russian economy

The forecast of the world Bank, which published the evening of 7 June in the US, contains the assumption that Russia’s GDP in 2016 will be reduced by 1.2%, in 2017 will grow by 1.4%, and in 2018 – by 1.8%. In all three indicators, the world Bank changed its forecast upward, indicating the influence of the geopolitical risks associated with the situation in Ukraine and the Caucasus.

In April, the world Bank, on the contrary, has lowered its forecast for Russia’s GDP, predicting the fall for the year by 1.9%. Experts who previously predicted a GDP decline of 0.7%, referred to the low oil prices. Two months ago, they believed that the average annual cost of a barrel of Brent will be in 2016 $37 dollars.

At the same time, assessing 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 oil prices, metals and agricultural products.

As for other countries, the Chinese economy, according to WB experts, will increase 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 according to the WB forecast to grow 1.7%, and the economy of the Eurozone – by 1.6%. In both cases the experts ‘ forecasts were below April.