Since our most recent Russia Economic Report (RER) just four months ago, the World Bank revised its 2013 growth outlook for Russia – down from 3.3 percent to 2.3 percent. This downward revision in May represents a decline in our projections by 1.0 percentage point compared with March, and 1.3 percentage points compared with October 2012.
At the time of our May forecast revision, we decided to issue a more frequent World Bank macroeconomic monitoring note for Russia in addition to the semi-annual RER. The Russia Monthly Economic Developments provides:
- an overview of key global economic developments over the recent month in a few short paragraphs and figures;
- a discussion of the most current indicators for Russia on the real, fiscal, external, monetary, and financial sectors, as well as labor market developments; and
- reports on any changes in the World Bank’s growth outlook for Russia.
We hope the World Bank’s new Russia Monthly Economic Developments will complement other institutions’ assessments by providing an impartial reflection on the current economic situation in Russia.
The latest Russia Monthly Economic Developments will be posted around the 5th of each month on the World Bank’s Russia country webpage.