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The European Commission lowered the forecast for economic growth in Russia for 2019 from 1.6% to 1.5%. For 2020, the growth forecast is maintained at 1.8%. Thus, the European Commission expects this year a slowdown in Russia's GDP growth compared with a 2.3% rise recorded in 2018. The slowdown will be caused by a number of external and internal factors, among which is the weakening of domestic demand amid falling oil prices and accelerating inflation. It is also expected a decline in investment and a slowdown in export growth, which will be adversely affected by a decrease in hydrocarbon production and weak external demand. According to the European Commission, this year inflation in the country will exceed 5%, but next year it is expected to fall to the target level of the Russian Central Bank at 4%. The Ministry of Economic Development of the Russian Federation expects that in 2019, GDP will grow by 1.3%.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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