BISHKEK (TCA) — According to an assessment by EBRD economists, Russia’s sanctions against Turkey may reduce Turkey’s GDP growth in 2016 by around 0.3-0.7 percentage points, if they persist over the next year and are fully applied, with most of the impact related to tourism and occurring around the mid-year.
The impact on Russia’s GDP will be limited, with some moderate pressure on import prices and inflation, say EBRD economists.Following last month’s downing of a Russian military jet by the Turkish air force, Russia has imposed a set of economic and other sanctions against Turkey. Some measures are being put into …read more
Source: The Times of Central Asia
