Russia today cut its GDP growth forecast for this year to 1,8%, against the previous estimate of 2,4%, after the first half went worse than expected. If the data were to be confirmed, it would be the worst result for the Russian economy since the beginning of the crisis. In 2012 the GDP had grown by 3,4% and in 2011 by 4,3%.
For next year, the Moscow government has already lowered its forecast to between 2,8 and 3,2%, from the previous 3,7%. The Russian Executive had already had to cut the estimate this year, in April, to 2,4% from 3,6%.
