러시아ㆍ유라시아

Economic growth remained resilient despite pressures from the twin election cycle. After a slight moderation in gross domestic product (GDP) growth from 3.3 per cent in 2018 to 2.5 per cent in the first quarter of 2019, the economy accelerated to 4.6 per cent growth in the second quarter of 2019.

Foreign portfolio inflows have increased significantly. Investors have been attracted by restored macroeconomic stability and sound central bank policies, along with favourable conditions on international financial markets.

Reform progress has been mixed. Financial-sector and public finance reforms have continued as planned, but anti-corruption efforts suffered a setback, while the launch of an ill-prepared electricity market reform has asymmetrically hit industrial electricity consumers and disrupted the payments of feed-in tariffs to renewables.