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IMF improves forecast on growth of Russia's economy in 2017

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IMF improves forecast on growth of Russia's economy in 2017

The International Monetary Fund has improved its forecast on growth of Russia’s economy in the period of 2017-2018, up to 1.4%, according to its April report titled “Prospects for the Global Economy” (World Economic Outlook).

In comparison with January, forecast indicators improved by 0.3 and 0.2 percentage points respectively.

In 2017 and 2018 forecasts for China enhanced, reflecting stronger-than-expected support for the economy, as well as for Russia, where, as it seems, economic activity rebounded from the bottom, while the increased prices for oil accelerate economy,” the report notes.

At the same time, the IMF pointed out that the potential growth of Russia's GDP would be about 1.5% at a time when the reforms stall, what slows down approaching the levels of developed economies in terms of GDP per capita.

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