World Bank report 22

   Following a well established tradition, the AEB is pleased to announce its next World Bank briefing based on the World Bank’s “Russia Economic Report #22”.

 
   Amid heightened global uncertainties, Russia is experiencing a bumpy recovery. Domestic demand is rising, but unemployment remains high, and credit and investment remain limited. The budget has benefited from higher oil prices, but fiscal consolidation remains important in the medium term. Crumbling infrastructure, especially in transport, could hamper the economy’s competitiveness and longer-term growth prospects. The debt crisis in Western Europe sharpens the downside risks to global recovery and oil prices. But the effects on Russia are likely to be blunted by its stronger fiscal and debt positions and by limited trade and financial links with the affected countries. Russia is likely to grow by 4.5 percent in 2010, followed by 4.8 percent in 2011, as domestic demand expands in line with gradual improvements in the labor and credit markets. Employment is expected to improve gradually, however, enabling some further reductions in poverty.

   You will have the privilege to get the comments based on this report from Mr. Pedro Alba, World Bank Country Director for Russia, Mr. Karlis Smits, Country Economist for Russia, and Mr. Sergey Ulatov, Country Economist for Russia.

   The briefing will take place in the conference hall of the British Embassy (Smolenskaya nab. 10) on Thursday, July 8^th, 2010 from 11:30 – 13:00 (registration from 11:00).

The working language is English. Interpretation into Russian will not be provided.

Please register for this event online: www.aebrus.ru/events/registration/

Attendance Fees

AEB members’ participation for assigned representatives is free of charge;

Price for additional representatives of AEB members is 3,000 RUR (VAT not applicable);

Price for representatives of non-member companies: 6,500 RUR (VAT not applicable);

All payments are to be made by bank transfer. Once registration is closed the fee is non-refundable.

N.B.    Please bring your passport with you for security purposes.

Contact persons:

Programme: Maria Bliznetsova, AEB Events Director, mb@aebrus.ru

Registration online: Daria Donchenko, AEB Events Coordinator, events@aebrus.ru