The World Bank on Wednesday lowered its 2010 growth forecast for Russia to 4.5 percent, down from its March prediction of between 5 and 5.5 percent.
The UN body's 2011 growth prediction for Russia, however, increased from from 3.5 percent to 4.8 percent.
The World Bank made the revision due to a slower-than-expected economic recovery in the first quarter this year and the potential risks of a further slowdown, according to a bank report on Russia.
In a reverse move, another UN body -- the International Monetary Fund -- on Tuesday raised its forecast for Russia's GDP growth in 2010 from 4 percent to 4.25 percent, boosted by growing consumption levels.
Paul Thomsen, head of the IMF mission to Russia, said his institution had anticipated the Russian inflation rate this year to also go down by 1 percent to 6 percent.
The IMF forecast was based on projections by the Russian economic development ministry, which put the GDP growth and inflation at 4 percent and 6 to 7 percent respectively.
The Russian budget deficit was estimated at 5.9 percent of GDP by the IMF, higher than the 5.4 percent forecast announced by the Russian ministry on June 10.
Russia, which relies on raw material exports as its principal source of budget revenue, was affected by the global economic crisis, but a quicker-than-expected recovery in oil prices has eased some pressure on the federal budget.
Russia's economy contracted 7.9 percent in 2009./.