The Bank of Russia lowered GDP growth forecast in 2019 to 0.8-1.3%

The Bank of Russia lowered GDP growth forecast in 2019 to 0.8-1.3%, the growth rates of the Russian economy in 2020-2021 are also revised down. This is stated in the regulator’s statement following the results of the board of directors of the Central Bank.

 “Given the weak economic activity observed since the beginning of this year, the Bank of Russia has lowered its GDP growth rate forecast for 2019 from 1.0-1.5% to 0.8-1.3%. Growth rates of the Russian economy in 2020-2021 have also been reviewed downwards considering the expected slowdown in the global economy”, - noted in the message.