European Commission raises RussiaТs 2018 GDP outlook to 1.7%
MOSCOW, May 3 (PRIME) -- The European Commission has improved its forecast for RussiaТs gross domestic product (GDP) growth in 2018 to 1.7% from 1.6% and for 2019 to 1.6% from 1.5%, it said in a report on Thursday.
УThe impact of higher oil prices recirculating throughout the economy is likely to further support domestic demand and thereby GDP which is expected to grow by 1.7% in 2018,Ф the report said.
Growth is to edge down to 1.6% in 2019, Уreflecting subdued productivity and lingering effects of sanctions.Ф
Unemployment level is projected at 5.2% in 2018 and 4.9% in 2019.
The revised inflation forecast amounts to 3.7% in 2018 and 4% in 2019.
The European Commission also raised its forecast for average Brent oil price in 2018 to U.S. $67.7 per barrel from $55.7 previously and to $63.9 per barrel from $54.7 in 2019.