The Russian stock market is up 33% so far this year, despite low growth and ongoing pressure on household budgets. Sergei Fadeichev / TASS
Jake Cordell, Moscow Times: What’s Next for Russia’s Economy?
Analysts predict low growth, low inflation and a strong stock market in the final two months of the year.
A fresh roster of forecasts and data on the Russian economy suggests slow growth and low inflation coupled with robust corporate performance will mark the final two months of the year.
Meanwhile, economy-watchers remain fixed on a crucial Central Bank meeting in December and are divided over whether Bank of Russia governor Elvira Nabiullina will deliver a further rate cut before the New Year.
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WNU Editor: I disagree with these stats. I know that they are underestimating the Russian construction industry that is doing a lot better than the stagnation shown by official statistics. The underground market where almost everyone has a side business is also doing very well, and it is not used in these measurements. It has also been a banner year for Russia's stock markets (33% increase over one year), and overall personal/corporate/government debt is low. Everyone is also working, with unemployment at record lows. Inflation is also historically low. Sanctions have also helped. It resulted in the development of local industries to replace the goods and services that are not permitted under this ban. If I was to peg what is the real GDP growth, I would peg it at around 3 to 4 percent. My cousins in Russia who are in the construction business think the growth is closer to 5%.
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