OREANDA-NEWS. January 13, 2011. The World Bank has lowered the forecast for Russian GDP growth on 2011 to 4.2% from 4.5% predicted in November 2010. At the same time, the 2012 forecast has been increased from 3.5% to 4%. According to the World Bank’s report on global economic prospects, in 2010, Russia should have shown a 3.8% GDP growth.

For reference, in November 2010, the same estimate stood at 4.2%. The 4.2% estimate for 2012 reflects strengthening internal demand and increasing oil process. The GDP growth in 2012 promises to be more moderate, as basic structural limitations are likely to have a graver impact on the economy. The recovery of the Russian economy, which is the core export and labor market in the CIS, is to affect the entire region, World Bank noted.