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The OECD sharply downgraded the Outlook for Russia's economy

While in the country's economic situation is not good.

02.Jun.16 5:12 AM
By Abigail Richards


The OECD sharply downgraded the Outlook for Russia's economy
Today, June 1, it became known that the organization for economic cooperation and development sharply worsened the forecast on economy of the Russian Federation. In the document, which was formulated by them, it is noted that in the current year the Russian economy in 2016 will not collapse by 0.4 percent of GDP, and at least 1.7%. As for 2017, the forecast here is also somewhat changed, the Russian economy will grow only 0.5% of GDP, whereas previously it was about the growth of 1.7%.

In addition, the OECD experts have noted that prolonged recession in the Russian economy due to the collapse of world oil prices and anti-Russian sanctions. Experts claim that while nothing is said about the improvement in the economy, while only negative data.

In addition, the experts drew attention to the fact that unemployment in the Russian Federation will continue to grow and economic growth will be achieved only in 2017 amid falling inflation and a recovery in real incomes of Russians.

In turn, many analysts and financiers have repeatedly said that a quick economic recovery of Russia should not wait, the economy will recover slowly. But there are opinions that the economy is already beginning to normalizerbase.

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