Preparations ahead of the 2014 FIFA World Cup and the 2016 Olympic Games did not prevent a sharp economic slowdown in the last three years, Euler Hermes analysts noted in the report.
In the first quarter, the gross domestic product grew by just 0.2% compared with the previous quarter, after a 0.4% growth in the fourth quarter of 2013.
Euler Hermes expects growth to stay reduced, at 1.8% in 2014, with the sporting mega events contributing at best only 0.2 percentage points, while their impact will gradually decline.
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