The Dawn of a New Economic Era?

Russia has avoided recession in 2014 Economic growth slacked due to an oil price shock, geopolitical uncertainty and sanctions and unresolved structural constraints. Growth prospects are negative and largely dependent on oil price assumptions. In 2015 Russia's economy will decline by: -2,9% if oil prices average $69 per barrel -3.8% oil prices average $53 per barrel if oil prices average $45 per barrel -4.6% The impact of sanctions is likely to linger for a long time. Less technology and innovation transfer Restricted access to external finance Depressed consumer and investor confidence Russia Economic Report: The Dawn of a New Economic Era? No. 33, April 2015 Download at www.worldbank.org/russia WORLD BANK GROUP