WASHINGTON (Sputnik) — The World Bank’s data showed that Russia’s GDP will stay at negative 1.2 percent in 2016, and will enter positive territory and reach 1.4 percent growth in 2017.
In April, the World Bank expected the Russian GDP to contract 1.9 percent in 2016, and reach 1.1 percent growth in 2017.
The Russian economy suffered a setback in 2014, as the ruble lost about half of its value against the US dollar amid low global oil prices and Western economic sanctions imposed against Russia over the Ukrainian crisis.