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The recent positive news for investors (including hotel investments) came from the World Bank (WB). The WB has reconsidered its earlier made forecast for Russia's Gross Domestic Product (GDP) for 2010 and raised it slightly. Assessing the work of the Russian authorities to overcome the crisis as very successful, the WB experts have made their forecasts about its steady recovery. They believe that the main macroeconomic index - the GDP - is expected to grow by 5-5.5 per cent next year.

Several months ago the World Bank did not expect Russia to demonstrate good indices - as shown today. Its former forecast of Russia's GDP growth was 3 per cent maximum. However, a package of anti-crisis measures, taken by the government, has made it possible to avoid serious social disturbances in the country. After the Russian authorities raised the wages and benefits and started reforming the banking system, including, first of all the crediting mechanisms, it became clear that they had done what seemed impossible to do: it was not simply an economic stabilization - Russia's economic growth jump-started, and this proved a steady and confirmed process. And this served as a reason for the World Bank to raise its forecast.

Moreover, the WB experts proved to be more optimistic not only than their colleagues from the other international financial agencies, but also far more optimistic than the Russian authorities. We should not forget here that last year proved worse for Russia than the experts expected it to be. Therefore, even the current favourable development will not return the situation overnight to its before-crisis level, an economic professor and scientific leader at the Institute of Scientific Strategy Nikita Krichevsky warns:

"According to preliminary forecasts, Russia's GDP has gone down by 7.9 per cent on last year's results. And we should understand that 7.9 per cent minus 5.5 per cent, all the same, produce the negative result of 2.4 per cent. This means that even should the WB forecast be justified and should Russia's economy demonstrate a 5.5 per cent growth this year, this will not cover the gap, which occurred last year".

On the whole, experts expect the country to cope with the budget deficit in 2011. And what will promote this will mainly be rather high prices on fuels the biggest exporter of which Russia is today. Another positive factor - consumption growth - is linked to the increase of the people's incomes. True, this may trigger inflation but analysts do not show serious concern on that score for the time being.

The main thing here is that Russia's leadership has learned a lesson from the former crisis and has taken a course on the modernization of the national economy. And the first positive results are visible today, economist Nikita Krichevsky says:

"What I want to stress here first of all is a sharp warming of the investment and entrepreneurship climate in Russia. That warming that is entirely under the control of the current government. We should also stress here that both the President and the government are doing much in this direction. There's no doubt that the growth of the entrepreneurship activity will become visible later this year, which will lead to an increase in the Gross Domestic Product and, which is the main thing here, to the growth of revenues of the federal budget".

Should we not succeed in solving all economic problems this year, the way we have chosen is correct. And the WB forecasts offer proof.


Source: Voice of Russia

Golden Tulip Apple Park Maastricht, the Group Xelat Benoit Wesly and Ballast Nedam have signed an agreement for the construction of the Preventive Health and Wellness Center in Maastricht.
The wellness center is immediately adjacent to and partly associated with the Golden Tulip hotel planned. The wellness center will consist of two layers of low rise and a tower height of seventy meters.
The center will include fitness and sports, medical and paramedical preventive care, alternative therapies, saunas, swimming and thermal baths, beauty and health services, health care hotel and apartments, hotel rooms (expansion of the Golden Tulip Apple Park Maastricht), meeting rooms and restaurant and catering facilities.







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