Publication: Russian Economic Report, No. 22, June 2010: A Bumpy Recovery
Date
2010-06-16
ISSN
Published
2010-06-16
Author(s)
World Bank
Abstract
Amid heightened global uncertainties,
Russia is experiencing a bumpy recovery. Domestic demand is
rising, but unemployment remains high, and credit and
investment remain limited. The budget has benefited from
higher oil prices, but fiscal consolidation remains
important in the medium term. Crumbling infrastructure,
especially in transport, could hamper the economy's
competitiveness and longer-term growth prospects. The debt
crisis in Western Europe sharpens the downside risks to
global recovery and oil prices. But the effects on Russia
are likely to be blunted by its stronger fiscal and debt
positions and by limited trade and financial links with the
affected countries. Russia is likely to grow by 4.5 percent
in 2010, followed by 4.8 percent in 2011, as domestic demand
expands in line with gradual improvements in the labor and
credit markets. Employment is expected to improve gradually,
however, enabling some further reductions in poverty.
Link to Data Set
Citation
“World Bank. 2010. Russian Economic Report, No. 22, June 2010: A Bumpy Recovery. Russian Economic Report;No. 22. © Washington, DC. http://hdl.handle.net/10986/27777 License: CC BY 3.0 IGO.”