IMF reveals actual data on Russia's GDP growth projection
The International Monetary Fund (IMF) confirmed its forecast that the Russian economy would grow by 1.7 percent and 1.5 percent in 2018 and 2019 respectively, the organization said in a statement.
“Growth is projected at 1.7 percent in 2018, supported by rising credit and disposable incomes … The medium-term outlook remains muted, due to structural bottlenecks and the lingering impact of sanctions. Absent structural reforms, growth is expected to settle around 1.5 percent, while monetary policy stabilizes inflation around 4 percent by end-2019,” the IMF said in a Wednesday statement released after the consultations with the Russian authorities, Sputnik reports.
The organization pointed out that the Russian economy was recovering from the 2015 – 2016 recession due to the effective policy of the Russian government and high oil prices. At the same time the IMF said that the main risks to the Russian economy stemmed from the geopolitical tensions as well as the announced government’s policy plans.