Slovak unemployment inched further down to 3.88% in March
1 day ago
The World Bank has revised the Russian GDP dynamics for this year, forecasting instead of shrinking by 3.3%, the economy will only contract by 0.2%, Tass reported on April 6. (chart)
Despite the problems caused by extreme sanctions, Russia’s economy is preforming better than expected. The Central Bank of Russia (CBR) also recently improved its economic outlook for this year to a range of -1% to +1% for the full year.
The World Bank’s updated estimates reveal that as of the end of 2022, the Russian GDP dropped by 2.1%. However, it predicts that this trend will not continue, and the country's national GDP will contract by just 0.2% this year. Furthermore, the bank forecasts that the Russian economy will grow by 1.2% in 2024 and by 0.8% in 2025.
Comparing these latest forecasts to those made by the World Bank in January 2023, the bank had estimated that the Russian economy would contract by 3.3% in 2023 and grow by 1.6% in 2024.
The upgrade comes on the back of other unexpectedly strong results. S&P Global just released the services PMI index that showed an extremely strong expansion of 58.1 and another good month for the manufacturing PMI. Russia’s business managers remain optimistic about the full year, reporting a recovery in sales.
Related Content
Data
_1713874341.png)
Slovak unemployment inched further down to 3.88% in March
There were 167,493 job applicants in March, which is at its lowest level since the end of 2019.
Poland’s industrial production disappoints in March as output declines 6% y/y
Poland’s industrial production fell 6% year on year in constant prices in March (chart), after a gain of 3.3% y/y the preceding month, unadjusted data from the statistical office GUS showed on April 22.
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Most Read
-
The models are wrong, climate change is accelerating faster than predicted
17 hours ago
-
Putinomics: Russia’s oil and gas revenue to double in April
10 hours ago
-
Romanian consumer protection body begins investigation into Temu and Shein
1 day ago
-
CEE recovering but no full rebound in sight, says wiiw
16 hours ago
-
Don't mention the "D" word - Ukraine
5 days ago
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
8 days ago
-
EU finally boosts defence investment into arms production as Ukraine runs out of ammo
1 month ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
8 days ago
-
Don't mention the "D" word - Ukraine
5 days ago
-
Europe unlikely to tackle Russian LNG imports anytime soon
2 days ago
-
Russia could pay off its entire external debt tomorrow, in cash
26 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
30 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
BRICS announce a blockchain-based payment system to create a common currency
28 days ago
-
Saudi Arabia to scale back plans for Neom city
15 days ago