BOFIT Forecast for Russia 2017–2019 / 2

Abstract

Our latest forecast sees Russian GDP rising by 1.5 % p.a. through 2019 on the assumption that oil prices remain roughly at current levels. Growth will be driven by recovering domestic private demand, which also is expected to support a brisk recovery in imports. Russian economy is already growing close to its potential and achieving faster sustainable growth would require major structural reforms that are currently not in sight.