The OECD predicted stagnation in the Russian Federation in 2015

The organization for economic cooperation and development (OECD) presented the report, which has lowered the forecast increase of the Russian economy for the current year with 0, 5% 0, 3% and predicted stagnation in 2015 instead of increasing by 1, 8%.
" as a result of falling oil prices and disruptions in trade, the Economy will go through a period of stagnation significant part of 2015 ", - stated in the document, RIA " Novosti ". The increase in the rate of increase of 1 to 6% will occur in 2016. The economy will recover in 2016 in the case of normalization of the external environment, and improving the business climate within the country, which may contribute to the expansion of import substitution. In the form of risks that have the opportunity to lead the economy into recession, the OECD calls for further reduction in oil prices and a significant increase in penalties regarding Russia. However, according to experts of the OECD, the successful implementation of the program on imports can provide some growth in the economic indicators of the Russian Federation. Reliable solution to the conflict on gas supplies to Ukraine will reduce the tension in trade relations Between Russia and the EU countries. The OECD makes recommendations to the Russian authorities the implementation of structural reforms, for example, on the extension of the rule of law and the elimination of excessive bureaucracy and strengthen the economy of the country. However, before the Minister of economic development Alexei Ulyukayev has not excluded that the growth of Russia's GDP in 2014 will amount to little more than 0, 5%. The Russian state Duma on 21 November 3rd reading, adopted the budget for 2015 with a planned deficit at 0, 6% of GDP, in addition, was adopted budget 2016 and 2017 with the same level of deficit during these years. At the same time at the end of October the European Commission has predicted the fall of improvement of the Russian economy due to the effects of punishment on 0, 6 percentage points this year, and at 1, 1 percentage point in 2015.


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