MOSCOW, October 8 (RIA Novosti)
- Russia’s GDP Growth Slows to 2.8% in Aug.
- Russia’s GDP Grows 4.4% in First Half – Rosstat
- Russia’s GDP Grows 4.4% Over Six Months
The World Bank has lowered its forecast for Russia’s 2012 GDP growth to 3.5 percent from the previously projected 3.8 percent, the bank said in a report on Monday.
The economic growth forecast for 2013 was also downgraded from 4.2 percent to 3.6 percent.
The World Bank’s adjusted GDP growth outlook for 2012 coincided with the Russian government’s forecast, but proved to be more pessimistic for 2013 than the 3.7 percent projected by the Russian Economic Development Ministry.
In 2011, the Russian economy grew by 4.3 percent.
“Despite a modest rise in oil prices, we project growth in Russia to decline from 4.3 percent in 2011 to 3.5 percent in 2012, and stay at 3.6 percent in 2013. The revision reflects the poor agricultural harvest and a weaker-than-expected global environment,” the report said.
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The downing of the Malaysia Airlines MH17 plane over Eastern Ukraine catapults the crisis there onto the global plane. The tragic and sudden loss of so many innocent lives should put a final point to the armed conflict—or it may put the international conflict over Ukraine on a much higher and more dangerous level.