World Bank Believes in Russian Economy

World Bank experts predict stable development to Russian economy. In its progress report on the situation in Russia World Bank praised the country's authorities for the successful work to overcome the crisis.

Moreover, the bank has traditionally proved to be more optimistic than not only their colleagues from other international financial institutions but more optimistic than  Russian authorities. World Bank experts have calculated that in 2010 Russian GDP will grow by 5,5%.
 

World Bank noted that the loss of Russia's economy were lower than expected at the beginning of the crisis. "This was partly due to the large-scale package of anti-crisis measures taken by the Government," - the report says. 

Either way, the World Bank notes that Russia has started this year under very favorable external and domestic environment: the increasing influx of capital, increase of domestic demand and the suspension of a recession in the labor market. That is why forecasts for economic growth have been so optimistic.


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