Russia faces a protracted recession as the impact of Western sanctions lingers and oil prices stay low, the World Bank said in a report published on Wednesday. In its baseline scenario, the bank expected Russia's gross domestic product to contract by 3.8 percent in 2015 and a further 0.3 percent in 2016, describing medium-term growth prospects as dim. The World Bank's lead economist for Russia, Birgit Hansl, said "adjustment to the new oil price reality and the sanctions environment" was a key policy challenge. "If we look more into the medium term, the main challenge for Russia is the continued dearth in investment," she said, presenting the report.
from Business News Headlines - Yahoo! News http://ift.tt/1IPzaji
via
IFTTT
No comments:
Post a Comment