OECD changes Russia growth forecast

OECD changes Russia growth forecast

The Organisation for Economic Co-operation and Development (OECD) cut its 2019 forecast for the GDP growth in Russia.

The estimate for the 2018 GDP growth in Russia was downgraded from 1.8% to 1.6%, compared to the September report, while the for 2019 has remained unchanged.

The Organisation has lowered its prognosis for the global GDP growth for 2019 from 3.7% expected in September report to 3.5%, according to the Economic Outlook.

The OECD lowered its 2018 GDO growth prognosis for the eurozone from 2% in the previous report to 1.9%. The organisation is expecting the GDP growth of the eurozone to lower to 1.6% in 2020.