The World Bank (WB) has warned that the Russian economy could contract by 1.8%, probably due to the crisis that emerged after the annexation of the Crimea. The report published by the World Bank indicates that political tensions could create a greater economic uncertainty and further reduce the confidence and the economic activities of international investors. WB has developed two scenarios for Russia, which largely depend on the recovery of business confidence and consumer and geopolitical risks, according to the World Bank, which, in the worst-case scenario, could lead to a contraction of 2.1% of the economy Russian in 2015. However, the World Bank notes that between 2001 and 2010, Russia has significantly reduced the incidence of poverty among its population to 10% in 2010, compared to 35% at the beginning of the decade.
Posted on: Wed, 26 Mar 2014 14:11:58 +0000
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