Support The Moscow Times!

World Bank Cuts Growth Forecast

Russia's economy is operating near full potential and is facing "binding" structural impediments, the World Bank said Wednesday, cutting its forecast for 2013 economic growth.

"The economy appears to grow close to capacity, constrained by feeble investment activities and a tight labor market," the World Bank said in its twice-yearly Russia Economic Report.

The bank cut its growth forecast for Russia in 2013 to 1.8 percent from 2.3 percent.

This follows recent growth downgrades by the Russian government and the IMF, responding to an unexpectedly severe slowdown over recent months.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more