wiiw Forecast Reports
RUSSIAN FEDERATION: Stagnation becomes the ‘new normal’
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Peter Havlik
in: Labour Shortages Driving Economic Growth?
wiiw Forecast Report No. Autumn 2016, November 2016 , pp. 101-104
RUSSIA
The renewed plunge in oil prices at the beginning of 2016 has resulted in lower export and budget revenues, prompting a delay in stabilising the economy. Only since mid-2016 has the Russian economy seemingly begun to emerge slowly from recession. With oil prices more or less flat, financial and trade sanctions remaining in place and structural and institutional reforms absent, economic growth will stay sluggish – at less than 2% – even in the medium term.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Russia