Russia and CIS region, kept intact from worldwide growth slowdown in 2011

According to Coface, worldwide growth should slow down in 2011 at 3.2% compared to 4.2% in 2010. This is due to recent events in Japan, North Africa and the Middle East, debt reduction in the private sector, setting up of restrictive budget policies in Europe, rise of oil prices by 25% and the expected slowing in worldwide trade. Despite this slowdown, a scissor effect for the risks between the advanced countries and the emerging countries will be as pronounced as ever: emerging countries, big winners of the crisis, should have a growth rate of 5.6% compared to 1.7% for the advanced countries.

The CIS will be the only zone to slightly accelerate its growth in 2011 with 4.7% compared to 4.4% in 2010. For Russia, Coface foresees a stable growth, at 4.5%, driven by a renewed private consumption and a rebound in oil prices.

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