IMF: Russian econ becomes healthier after oil price, sanctions shock

MOSCOW, Nov 29 (PRIME) -- The Russian economy has sustained a dual shock of an oil price reduction and sanctions, and is showing signs of becoming healthier, The International Monetary Fund (IMF) said in a statement on Tuesday.

Albeit the country’s gross domestic product (GDP) is thought to fall 0.6% in 2016, the recovery will accelerate and the economy will rise 1.1% in 2017, head of the IMF mission to Russia Ernesto Ramirez Rigo said as cited in the statement.

Inflation will decrease to 5.6% by the end of 2016 and to 4% within 2017.

The current account surplus will be decreasing as imports recovery rates will exceed the growth of exports revenue because an earlier fall of the ruble exchange rate has not supported non-traditional exports so far, IMF experts said.

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