Stock Groups

EBRD sees Russian economy growing 3% in 2022, notes sanctions risk -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: Aerial view showing Moscow, Russia’s capital. Oct 29, 2015. REUTERS/Andrey Kuzmin

MOSCOW, (Reuters) – After expanding 4.3% last year, Russia’s economy will grow by 3.0% in 2022. The European Bank for Reconstruction and Development stated on Thursday that the Russian economy would expand by 3.0% in 2022. However, there are geopolitical uncertainties which could affect the economic outlook.

After a sharp contraction of 11.2 years, the Russian economy is now back to its pre-pandemic level. It suffered a 3% plunge in 2020. It may face challenges from possible drops in the prices of oil, Russia’s main export, or multiple interest rate rises.

EBRD stated that the Russian economy was boosted by programs to spend on social issues, which are facilitated through higher commodities revenues in a report about regional economic prospects. However, forecasts can be subject to many risks.

It cited “geopolitical strains, particularly the risk of new sanctions and volatility oil and gas prices, demand and supply.”

According to EBRD, the Russian central banks’ forecasts predict that gross domestic product will grow at a rate of 4.0-4.5% per annum in 2021 and 2.3-0.0% annually in 2022-2024.

The following forecasts were provided by EBRD for Russia and other countries.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]