World Bank headquarters in Washington DC. Photo: Wikipedia.org.
The World Bank published a report in which it improved the forecast for the decline in Russia's GDP in 2023.
If in its January forecast the World Bank expected a fall in Russia's GDP by 3.3% this year, now he predicted a contraction of the Russian economy by only 0.2%.
The WB report notes that the reduction in the current account surplus will occur due to a decrease in oil production in Russia by against the background of the imposed sanctions.
The WB also states that Russia’s access to resources and technologies that could increase productivity is now limited.
As for the forecast for GDP growth in the Russian Federation for 2024, the World the bank worsened it to 1.2% from 1.6%. In 2005, the World Bank expects the Russian economy to grow by 0.8%.