- Sputnik International
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Russia, CIS to Remain in Recession in 2016, May Grow Slightly in 2017

© Sputnik / Maxim Blinov / Go to the mediabank2015 St. Petersburg International Economic Forum (SPIEF). Day Three
2015 St. Petersburg International Economic Forum (SPIEF). Day Three - Sputnik International
Russia and other economies of the countries from the Commonwealth of Independent States are expected to remain in recession in 2016, according to to a World Economic Outlook report.

Electronic currency exchange board in downtown Moscow. The Bank of Russia has increased the euro's official exchange rate by 2 rubles, this permitting the value of the common European currency to exceed 85 rubles - Sputnik International
Sanctions Slowed Russian Economic Growth by 0.5 PP in 2015
MOSCOW (Sputnik) – Russia will remain in economic recession throughout 2016, dragging with it the economies of the countries from the Commonwealth of Independent States, due to low oil prices and continuing sanctions, according to a World Economic Outlook report published on Tuesday.

"Russia, which continues to adjust to low oil prices and Western sanctions, is expected to remain in recession in 2016. Other economies of the Commonwealth of Independent States are caught in the slipstream of Russia’s recession and geopolitical tensions, and in some cases affected by domestic structural weaknesses and low oil prices; they are projected to expand only modestly in 2016 but gather speed in 2017," the report reads.

Global economic growth is predicted to be at 3.4 percent in 2016 and slightly higher in 2017 at 3.6 percent, according to report.

“Global growth is projected at 3.4 percent in 2016 and 3.6 percent in 2017,” the report reads.



To participate in the discussion
log in or register
Заголовок открываемого материала