2012 OECD Economic Outlook, Volume 2012 Issue 1

image of OECD Economic Outlook, Volume 2012 Issue 1

The OECD Economic Outlook is the OECD’s twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, chapters summarising developments and providing projections for each individual country, a chapter on medium and long-term scenarios for growth and imbalances, and a and a statistical annex.

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Russian Federation

Higher oil prices and the easing of euro area tensions will allow economic growth to continue at above 4 per cent in 2012 and 2013. Inflation will rebound from record-low levels in the second half of this year as temporary favourable factors fade, before resuming a gradual downward trend. The budget is projected to remain in surplus in 2012-13, but the non-oil deficit will remain wide.

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