ID :
172094
Thu, 03/31/2011 - 07:37
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http://m.oananews.org//node/172094
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.WB lowers Russia GDP forecast to 4,4% for 2011.
MOSCOW, March 30 (Itar-Tass) - The World Bank has lowered the forecast of GDP growth in Russia to 4.4 percent for 2011 against 4.5 percent previously, according to a WB report on the Russian economy. At the same time, the World Bank changed its estimate of GDP growth in the Russian Federation in 2012 from 3.5 percent to 4 percent. Following the growth of real GDP by 4 percent in 2010, it is expected that Russia's economic growth in 2011 will amount to 4.4 percent largely due to growth in domestic demand, according to the document of the international development institution.
World Bank warns of rising global risks in the new oil shock. Further economic policy of the Russian government, according to the World Bank, should focus on limiting inflation in the short term and the tightening of fiscal policy - in the medium term.
According to a WB press release, after a 4 percent growth in 2010,
Russia's real output is expected to grow 4.4 percent in 2011, increasingly driven by domestic demand, says the World Bank's Russian Economic Report No. 24 launched on Wednesday in Moscow. The report analyses recent economic developments over the past year and Russia's economic outlook for 2011-12. The report also provides short analytical notes on major structural issues in Russia, including the effectiveness of public expenditures and investment climate.
According to WB, Russia emerged from the global recession with
lower-than-expected unemployment (7.6 percent in February 2011) and
poverty (12.7 percent at end-2010). High oil prices will help Russia's
export and fiscal revenues, but there is no room for policy complacency.
The challenge is to sustain reforms under the conditions of a new oil windfall, the report says. Short-term: economic policy should focus on controlling inflation. Medium-term: implementing fiscal adjustment towards
a long-term, sustainable level of non-oil fiscal deficit. Long-term:
implementing structural reforms aimed at enhancing productivity and
diversification, improving the efficiency of public expenditure to create
fiscal space for productive infrastructure, and strengthening the
investment climate for the private sector.
-0-
World Bank warns of rising global risks in the new oil shock. Further economic policy of the Russian government, according to the World Bank, should focus on limiting inflation in the short term and the tightening of fiscal policy - in the medium term.
According to a WB press release, after a 4 percent growth in 2010,
Russia's real output is expected to grow 4.4 percent in 2011, increasingly driven by domestic demand, says the World Bank's Russian Economic Report No. 24 launched on Wednesday in Moscow. The report analyses recent economic developments over the past year and Russia's economic outlook for 2011-12. The report also provides short analytical notes on major structural issues in Russia, including the effectiveness of public expenditures and investment climate.
According to WB, Russia emerged from the global recession with
lower-than-expected unemployment (7.6 percent in February 2011) and
poverty (12.7 percent at end-2010). High oil prices will help Russia's
export and fiscal revenues, but there is no room for policy complacency.
The challenge is to sustain reforms under the conditions of a new oil windfall, the report says. Short-term: economic policy should focus on controlling inflation. Medium-term: implementing fiscal adjustment towards
a long-term, sustainable level of non-oil fiscal deficit. Long-term:
implementing structural reforms aimed at enhancing productivity and
diversification, improving the efficiency of public expenditure to create
fiscal space for productive infrastructure, and strengthening the
investment climate for the private sector.
-0-
