This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/527790-russia-economy-growth-outlook/
The article has changed 4 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
S&P upgrades Russia’s economic outlook for 2021 | S&P upgrades Russia’s economic outlook for 2021 |
(2 months later) | |
S&P Global Ratings expects Russia’s economic growth to reach 3.7% this year. The agency has upgraded its previous forecast of 3.3%, published in March. | S&P Global Ratings expects Russia’s economic growth to reach 3.7% this year. The agency has upgraded its previous forecast of 3.3%, published in March. |
The New York-based ratings agency expects the Russian economy to grow by 2.5% next year, while projecting further growth of 2% in 2023 and 2024. | The New York-based ratings agency expects the Russian economy to grow by 2.5% next year, while projecting further growth of 2% in 2023 and 2024. |
The forecast for Russia’s economic growth has been raised due to “faster-than-expected recovery in domestic demand” thanks to the easing of Covid-related restrictions, it reported. | The forecast for Russia’s economic growth has been raised due to “faster-than-expected recovery in domestic demand” thanks to the easing of Covid-related restrictions, it reported. |
Moreover, the agency mentioned strong consumer lending as one of the reasons for the forecast upgrade.The analysts highlighted that the extended program of preferential mortgage loans would support demand in the country’s housing market. | Moreover, the agency mentioned strong consumer lending as one of the reasons for the forecast upgrade.The analysts highlighted that the extended program of preferential mortgage loans would support demand in the country’s housing market. |
An expected increase in oil production amid the potential easing of supplies caps under the OPEC+ deal will result in a surge in oil exports this year, as well as in 2022. | An expected increase in oil production amid the potential easing of supplies caps under the OPEC+ deal will result in a surge in oil exports this year, as well as in 2022. |
According to S&P analysts, inflation in Russia rose to 5.7% in 2021, and is expected to drop to 4.1% next year, and to a target of 4% in 2023 and 2024. | According to S&P analysts, inflation in Russia rose to 5.7% in 2021, and is expected to drop to 4.1% next year, and to a target of 4% in 2023 and 2024. |
The agency expects the Russian central bank to tighten its monetary policy this year. However, potential impact of a worsening pandemic could influence decisions on whether to move the key interest rate into the restrictive zone of above 6%. | The agency expects the Russian central bank to tighten its monetary policy this year. However, potential impact of a worsening pandemic could influence decisions on whether to move the key interest rate into the restrictive zone of above 6%. |
Earlier this month, the regulator raised its key interest rate by 50 basis points to 5.5%, saying that more hikes would be needed to rein in high inflation. | Earlier this month, the regulator raised its key interest rate by 50 basis points to 5.5%, saying that more hikes would be needed to rein in high inflation. |
For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
Dear readers and commenters, | |
We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
Sorry for the inconvenience, and looking forward to your future comments, | |
RT Team. |