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    Russian economy faces stagnation in first 6 months

    Bank of Russia has lowered GDP forecasts

    Baku. 20 April. REPORT.AZ/ Low growth rates of Russian economy shows stagnation in the first half of this year.

    Report informs citing the Lenta.ru, it is stated in analytical report of Sberbank CIB.According to bank's analysts, in 2017, Russian economy will increase by 0.6%.

    According to the report, real incomes of the population decreased by 1.9% in the first quarter. The strengthening of the ruble in the first quarter increased consumption of imported goods. Thus, according to the Bank of Russia (Central Bank), volume of imports showed 40% increase in the first quarter.

    In contrast to Sberbank according to the forecast report by International Monetary Fund (IMF) released this week, Russia's economy expected to grow by 1.4% in 2017-2018.

    Bank of Russia decreased quarterly GDP growth forecast from 0,6% to 0,5%. The forecast for the second quarter decreased from 0.8% to 0.6%.

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