Russian economy more resilient than expected – Bloomberg ...News

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Russian economy more resilient than expected – Bloomberg
source : Russia Today ( News ) () 33
Economists are improving forecasts for the year, according to the report Russia appears to be on track for a much shallower recession than was initially expected this year, Bloomberg reported on Wednesday, citing experts. Surging oil shipments have blunted the impact of US and EU sanctions, they say. According to the publication, economists from JPMorgan Chase, Citigroup, and other big banks are slashing their outlooks for the drop in output this year to as little as 3.5%. Russian officials, some of whom foresaw a contraction of as much as 12%, are now preparing to update their forecasts to less than half of that.

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