Country Economic Forecasts - Russia
The preliminary growth estimate for 2017 came in at 1.5%, below our forecast of 1.7%, underlining the fragility of Russia’s recovery. Recent indicators continue to suggest that consumption will drive growth in 2018, while the weakness in industrial production seen in recent month is starting to dissipate on the back of stronger manufacturing activity and higher oil prices. And the loosening of monetary policy will continue to accommodate GDP growth, which we forecast at 1.8% in 2018 and 1.4% in 2019.
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