PMR Insight: Russian economy to recover in 2017, but with modest growth rate

Anna Sidorowicz-Pokrywka, Retail Analyst, PMR
The external economic environment became more challenging for the Russian economy in 2016. Slower economic growth on the emerging markets (particularly in China, where the equity markets have collapsed) had a negative effect on expectations pertaining to global demand for commodities, reflected in falling prices. Waning demand, devaluations in the main CIS partner countries and the trade embargos imposed on Turkey and Ukraine have constrained Russian export prospects and the country’s competitiveness. In 2016, GDP contracted by 0.2%, mainly reflecting reductions in household consumption and gross…

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