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2010 OECD Economic Outlook, Volume 2010 Issue 1

image of OECD Economic Outlook, Volume 2010 Issue 1

The OECD Economic Outlook analyses the current economic situation and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2011 for both OECD countries and selected non-OECD economies. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments.

In addition to the themes featured regularly, this issue contains three special chapters. The first covers prospects for growth & imbalances beyond the short-term, the second covers return to work after the crisis, and the third examines counter cyclical economic policy.

 

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Russian Federation

Aided by the large rise in oil prices since early 2009, the economic recovery is gaining momentum. Although some components of domestic demand have yet to rebound, they are projected to do so in the course of 2010 and into 2011. Inflation has declined strongly in the last year, but is likely to move back up slightly before stabilising. The current account surplus will widen in 2010 on account of strong export prices, but will narrow again in 2011 as the recovery in private domestic demand gathers strength and as the real appreciation of the rouble over the past year boosts import growth.

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