BOFIT Forecast for Russia 2021–2023 / 1

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Title: BOFIT Forecast for Russia 2021–2023 / 1
Organization: Bank of Finland
Department / Unit: Bank of Finland Institute for Emerging Economies (BOFIT)
Series: BOFIT Forecast for Russia
Series number: 1/2021
Year of publication: 2021
Publication date: 16.3.2021
Pages: 6
Subject (yso): talouskasvu; taloudelliset ennusteet; taloudellinen kehitys; ennusteet
Keywords: Bofit-kokoelma; Venäjä; taloudelliset katsaukset
Other keywords: Russia; forecast; economic development; economic forecast; economic growth
Abstract: We have raised our economic forecast for Russia from last autumn to reflect the rise of oil prices and price expectations. The impacts of covid-19 on Russia were also less severe than anticipated. We see Russia’s GDP recovering from last year’s dip to growth of almost three per cent this year and next. Significant uncertainties continue to surround the outlook. Russia and the rest of the world may struggle longer with covid, oil markets remain sensitive, and, like many economies, the Russian economy is at an inflection point with regards to recovery. Growth will slow after next year, approaching its long-term future trajectory.
Note: Published also in Finnish by the name BOFIT Venäjä-ennuste.

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