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News ID: 39699
Publish Date : 19 May 2017 - 21:14

IMF Improves Russia 2017 Economic Growth Forecast to 1.4%


MOSCOW (Reuters) – The International Monetary Fund improved its forecast for Russia’s economic growth this year to 1.4 percent, saying easier financial conditions and higher oil prices would help drive a recovery, a regular IMFreport showed on Friday.
The Fund, which in October forecast the economy would grow by 1.1 percent this year, said Russia was exiting a two-year recession thanks to an effective policy response from the government and because the country had robust buffers.
The IMF cautioned, however, that Russia’s medium-term economic outlook would remain subdued, seeing annual economic growth at around 1.5 percent.