UN predicts slowdown of economic growth in Russia

UN experts predict slowdown of Russian GDP growth tempos.
According to the latest UN report on the perspectives of global economy, in 2004 the economy of the EU countries will have 2.1 percent growth, the USA – 4.5 percent, Russia – 5.7 percent.

The authors of the report express concern that further fall of the US dollar can produce negative impact to the European countries economic growth, Interfax reports. In addition, low level of consumer demand also prevents the EU economic growth, UN experts say.

Experts predict 4.5 percent increase of GDP of Eastern European countries in 2004. In this way, despite growth tempos decrease, the countries of the former USSR and Eastern Europe will still have in 2004 the most dynamic development rate in Europe.

According to the UN, in 2004 GDP growth for the former USSR countries will be 5.7 percent, for Eastern Europe – 4.5 percent.

The USA will remain the locomotive of the global economy. The UN predicts the US GDP growth as 4.6 percent for 2004 (in 2003 it was 3.1 percent).

At the same time the USA will remain the main risk factor for short-term perspective, wrote “Survey of Economic Situation in Europe” (Issue 1, 2004).

Source: NEWsru