According to the World Bank, GDP forecasts for Russia, are at 3% for 2011, while the Russian Ministry of Economic Development has a slightly more optimistic prediction of 3.1% GDP for 2010, 3.4% for 2011 and 4.2% for 2012. The recovery of the oil prices in the first half of 2010, and the quick return to optimism by Russian consumers are viewed as very positive for further growth and full economic recovery. However, the growth rate has slowed, from the first 2Qs of 2010 when the GDP growth was 4.2%, it then dropped to 2.7% in Q3. The World Bank believes that the Russian economy will grow more slower than the other BRIC countries in 2011, Brazil's GDP is expected to grow by 3.9%, China by 9% and India by 8%.
Regarding other key economic indicators, Russia's inflation rate is expected to be between 6-7%, while investment is expected to increase by 8.8%, according to Russia's Central Bank. Oil prices are forecasted to be around $75, and the Russian budget for 2011 is based on this figure. The average exchange rate of the Russian Rouble against the Dollar is expected to be around 29.3, while the rate of unemployment rate will be 7.5%. Wages are expected to increase by 3.1%, and the disposable income to grow by 3.6% - 4.1%.