2007 OECD Economic Outlook, Volume 2007 Issue 1

image of OECD Economic Outlook, Volume 2007 Issue 1
This issue of OECD's twice-yearly OECD Economic Outlook provides analysis of recent economic developments and economic projections for OECD and major non-OECD countries through the end of 2008. Its comprehensive statistical annex is a useful reference tool for international economic comparisons. Two special reports are included: one covers the effects of globalisation and how to maximise its benefits and minimise its adjustment costs. The second covers fiscal consolidation.

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Russian Federation

Real GDP growth in 2007 is likely to remain close to the levels of 2005–06, before moderating in 2008 as the impulse from recent terms-of-trade improvements dissipates. Growth will still be primarily consumption-driven, but the contribution of fixed investment to growth should increase. Inflation is likely to fall further, owing mainly to shrinking external surpluses, further de-dollarisation and slower growth of utilities tariffs and other regulated prices.

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