Russian central bank expects Western sanctions to remain until end of 2017
[MOSCOW] The Russian central bank said on Monday that it expects zero economic growth in 2015 and only 0.1 per cent growth in 2016, in a three-year monetary policy strategy that anticipates Western sanctions against Russia will remain until the end of 2017.
The central bank said that it was also calculating its base forecasts on the Urals oil price URL-E recovering to an average of US$95 in 2015 but falling to US$90 by the end of 2017, a long-term downward trend which it said would constrain economic growth.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons