MOSCOW: The World Bank expects Russia's economy to contract by 2.9 per cent in 2015, it said in a report on global economic growth on Wednesday, cutting its forecast from December when it expected a 0.7 per cent contraction.
The bank also predicted 0.1 per cent growth in 2016 and 1.1 per cent growth in 2017, following 0.7 per cent growth in 2014.
It cut its global growth forecast for 2015 and next year due to poor economic prospects in the euro zone, Japan and some major emerging economies that offset the benefit of lower oil prices.
indiatimes.com
The bank also predicted 0.1 per cent growth in 2016 and 1.1 per cent growth in 2017, following 0.7 per cent growth in 2014.
It cut its global growth forecast for 2015 and next year due to poor economic prospects in the euro zone, Japan and some major emerging economies that offset the benefit of lower oil prices.
indiatimes.com
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