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Monday, June 18, 2018

IMF drops economic growth forecast for Russia in 2015

The International Monetary Fund (IMF) predicted that Russia’s economic growth will reach 0.2 percent of gross domestic product in 2014, but will only reach 0.5 percent in 2015.

The forecast is included in a new report from the IMF that will be delivered on Oct. 7  before a meeting of the governing bodies of the IMF and the World Bank, sources in Washington told the Russian media agency Tass on Wednesday.

The World Bank last revised estimates for Russia’s economic growth in the summer after annual consultations regarding the domestic economy under the IMF Charter, Article 4. On July 1, after the talks, a report noted that Russian growth was expected to be 0.2 percent in 2014 and one percent of gross domestic product in 2015, respectively.

Economic specialists warned, however, that even though this is the news expected to be in the report, estimates could change up until the last moment.

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Eurasian Development Bank International Monetary Fund

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