IMF raises Russia’s 2018 GDP growth forecast to 1.7%

WASHINGTON, Jan 22 (PRIME) -- The International Monetary Fund (IMF) has raised its forecast for Russia’s gross domestic product (GDP) growth in 2018 to 1.7% from 1.6% and kept the 2019 outlook at 1.5%, the IMF said in its World Economic Outlook on Monday.

According to the IMF, the Russian economy grew by 1.8% in 2017.

The IMF also raised the 2018 average oil price forecast by U.S. $9.7 to $59.9 per barrel. In 2019, the oil price is projected at $56.4 per barrel.

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