REUTERS
Only Greece, Brazil and Venezuela show worse figures, according to the analysis of potential efficiency of the world’s 93 economies conducted by several experts at Bloomberg’s request, according to Russia’s RBC news agency.
"Its [Russia’s] GDP, according to economists, will be reduced in 2016 by 0.5%. Only Greece, Brazil and Venezuela are expected to show worse performance. Negative growth is also expected from the Ecuadorian economy, Argentina's GDP will remain at the same level, while the economies of Japan, Finland, Croatia and Switzerland will grow very slightly," said the report.
It is noted that in the past year Russia ranked third from the bottom in the Bloomberg’s list: its GDP has decreased by 3.65% in the first nine months. The last place went to Macau with the index declining by 25.03%. Ukraine's GDP will grow by 1.2-1.4%, according to the economists. There is a 60% possibility of a recession in the next 12 months, according to the experts.
Read alsoU.S. dollar, euro surge to new highs vs Russian ruble"For Russia, a high risk of recession will remain throughout the year, but will begin to decline starting September, down to the level of just above 60% in December. The average risk will be at 65%. In general, the economists believe that Russia will come out of the prolonged two-decade recession and will see a slight growth by the end of the fourth quarter," the report reads.
The World Bank expects that in 2016, Russia's economy will shrink by 0.7%. A report issued on January 6 said that structural reforms are needed to improve the situation and reduce the geopolitical risks.