Russia Economic Report, November 2017, No. 38 : Russia’s Recovery—How Strong Are Its Shoots?
Global growth gained momentum in 2017. After slowing to 2.4 percent in 2016 as investment and trade weakened, global growth accelerated to a projected 2.7 percent for 2017.Moreover, the recovery has been broad-based.Global trade also continued to s...
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| Format: | Report |
| Language: | English |
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Washington, DC: World Bank
2017
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| Online Access: | http://documents.worldbank.org/curated/en/526381512128747871/Russia-s-recovery-How-strong-are-its-shoots http://hdl.handle.net/10986/28930 |
| Summary: | Global growth gained momentum in 2017.
After slowing to 2.4 percent in 2016 as investment and trade
weakened, global growth accelerated to a projected 2.7
percent for 2017.Moreover, the recovery has been
broad-based.Global trade also continued to strengthen and
external financing conditions remain benign.Amid these
positive tailwinds, along with firming oil prices and
growing macro-stability, the Russian economy returned to
modest growth in 2017. The growth momentum of the second
half of 2016 spilled over to 2017 and was especially strong
in the second quarter this was supported by a rebound in
domestic demand in the first half of 2017—which also
contributed to a growth slowdown starting in the third
quarter.On the production side, mineral resource extraction,
transportation, and state management and provisioning for
national security drove growth in the first quarter of
2017.Monetary policy remained prudent and consistent with
the inflation-targeting framework. However, improvement in
headline indicators masks underlying disparities and
remaining vulnerabilities. |
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