SocGen raises Russia’s 2017, 2018 GDP growth outlook to 1.6%

MOSCOW, Nov 24 (PRIME) -- French banking group Societe Generale (SocGen) has improved its forecast for Russia’s gross domestic product (GDP) growth in 2017 and 2018 to 1.6% from 1.5% and 1.3%, respectively, SocGen said in a report seen by PRIME on Friday.

SocGen also expects Russia’s GDP to grow 1.4% in 2019, 1.5% in 2020 and 2021, and 1.6% in 2022.

The Russian Economic Development Ministry’s current basic forecast envisages GDP growth of 2.1% in 2017.

SocGen also projects Russia’s inflation at 3.6% in 2017, 3.2% in 2018, 4.0% in 2019, 3.9% in 2020 and 2021, and 4.1% in 2022.

The unemployment level is expected to gradually decrease to 5.3% in 2017, 4.7% in 2018, 4.6% in 2019, 4.5% in 2020, and 4.3% in 2021 and 2022.

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