Russia's Monthly Economic Developments
April 10, 2015
- The World Bank’s new growth forecast for Russia projects the economy to contract in 2015 by -2.7 percent, before increasing by 0.7 percent in 2016, largely reflecting a stabilization in global oil prices.
- Russia’s real GDP contracted in the first quarter slightly less than projected, but yet as expected, April’s high-frequency statistic suggests that the recession is still set to deepen in the second quarter.
- Movements in the ruble exchange rate realigned with oil price trends by the end of May, reflecting effective CBR measures.
- In May, inflationary pressures continued to subside on account of weak consumer demand.
- Real wage contraction still accelerated in April amid somewhat weaker labor market indicators.
- Development Partners Support the Creation of Global Financing Facility to Advance Women’s and Children’s Health
- 73 Countries and Over 1,000 Businesses Speak Out in Support of a Price on Carbon
- World Bank Group to Nearly Double Funding in Ebola Crisis to $400 Million
- International Food Prices Hit Four-Year Low
- Speech by World Bank Group President Jim Yong Kim at Howard University: “Boosting Shared Prosperity”