Russia lowers economic growth forecast as planned tax hike expected to curtail expansion

Russia’s Economic Development Ministry has slashed the country’s economic growth forecast for next year amid geopolitical uncertainty and a planned two-percent increase in value-added tax (VAT). The country’s gross domestic product (GDP) is now expected to grow by 1.4 percent in 2019 compared to the 1.9 percent growth projected this year, according to reports in […]