The World Bank has improved its economic outlook for Russia, predicting that the country’s GDP will grow 3.2% in 2021. In March, the bank’s analysts had put Russian economic growth at 2.6% this year.
The forecast for 2022 has not changed, with gross domestic product growth expected to be 3.2%.
According to the report, the baseline scenario assumes a gradual decline in Covid-19 infections.
The World Bank’s projection is better than that of the Russian Ministry of Economic Development and Trade, which expects the nation’s GDP to grow 2.9% by the end of the year.
