Agence France-PresseAugust 26, 2013 12:01
Russia lowered Monday its 2013 economic growth forecast to 1.8 percent from a previous estimate of 2.4 percent after a poor first-half performance, Russian news agencies reported citing the government.
If the figures are confirmed, it will be the first time since the 2008-09 financial crisis that the Russian economy has performed so badly. In 2012, Russia's economy grew 3.4 percent, and in 2011 it was at 4.3 percent.
For next year, the government lowered its forecast to between 2.8 percent and 3.2 percent growth, instead of the previously communicated 3.7 percent.