IMF improves forecast for Russia’s GDP fall to 1.2% in 2016

WASHINGTON, Jul 13 (PRIME) -- The International Monetary Fund (IMF) has improved its forecast for Russia’s gross domestic product (GDP) and now it expects the economy to fall 1.2% in 2016 against earlier expected 1.5%, as seen by PRIME in data of the fund on Wednesday.

The IMF still expects Russia’s GDP to grow 1% in 2017.

A possible reduction of the oil price remains the main risk for the Russian economy, the IMF said.

The fund also recommended that Russia’s central bank enhance a cleanup and stress tests in the banking system.

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