The European Commission published on 3 November its 2009 «Autumn Forecast», covering the period 2009-2011. The European Commission usually publishes economic forecasts four times a year: comprehensive exercises in spring and autumn and lighter «interim forecasts» published in between, usually in February and September for the largest EU economies and for a few variables only.
The Commission Autumn forecast foresees that the EU economy will emerge from recession in the second half of 2009. A relatively strong temporary pick-up is in the cards for the near term, following the improvements in the external environment, financial conditions, as well as the significant fiscal and monetary measures with a more gradual recovery foreseen in 2010-2011.
Concerning Russia, growth in 2009 is expected to be -7.2%, while a relatively mild recovery is foreseen for 2010 (2.3%), gaining some speed in 2011 (2..7%).