Sberbank has cut its gross domestic product growth forecast for Russia to 0.5 per cent to 1 per cent from between 1 per cent and 1.5 per cent, after a poor first-quarter economic performance.
Russia’s largest bank updated its forecasts ahead of the release of a preliminary first-quarter GDP estimate by the Economy Ministry on Wednesday and preliminary first-quarter data release by the statistics agency on May 15.
The Russian
