Russia Economic Report, No. 42, December 2019 : Weaker Global Outlook Sharpens Focus on Domestic Reforms
After a weak performance in the first half of 2019, helped by monetary easing, faster public spending and some one-off effects, economic growth in Russia picked up in the third quarter at 1.7 percent, y/y. Consequently, our 2019 forecast has been r...
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| Format: | Report |
| Language: | English |
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World Bank, Moscow
2020
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| Online Access: | http://documents.worldbank.org/curated/en/290511577724289579/Weaker-Global-Outlook-Sharpens-Focus-on-Domestic-Reforms http://hdl.handle.net/10986/33121 |
| Summary: | After a weak performance in the first
half of 2019, helped by monetary easing, faster public
spending and some one-off effects, economic growth in Russia
picked up in the third quarter at 1.7 percent, y/y.
Consequently, our 2019 forecast has been revised upwards to
1.2 percent (from its previous reading of 1 percent).
Globally, growth has weakened substantially in 2019,
reflecting a broad-based slowdown in industrial activity and
global trade. Slowing external demand and the OPEC
agreement weighed on Russia's exports performance.
Crude oil prices fell 14 percent in January-September 2019,
y/y, reflecting a downturn in the world economy. |
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