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2015 OECD Economic Outlook, Volume 2015 Issue 2

image of OECD Economic Outlook, Volume 2015 Issue 2

This OECD Economic Outlook analyses the current economic situation and examines the economic policies required to foster a sustained recovery in member countries. The present issue covers the outlook to end 2017 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.

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Russia

The economy is in recession. Falling oil prices, international sanctions and capital flight have reduced investment, domestic consumption and imports. The large depreciation of the ruble has pushed inflation to double digits and reduced real incomes, especially of the poorest. Recovery will be only gradual against the backdrop of an uncertain external environment and lack of structural reforms. Unemployment will rise from the current low levels. Growth is projected to turn positive in 2017 as exports strengthen and domestic demand recovers.

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