IMF retains Russia’s 2018, 2019 GDP growth forecast at 1.7%, 1.5%

WASHINGTON, Sep 13 (PRIME) -- The International Monetary Fund (IMF) has confirmed its forecast for Russia’s gross domestic product (GDP) growth at 1.7% in 2018 and 1.5% in 2019, the fund said in its World Economic Outlook on Thursday.

Russia’s economy has been recovering from the 2015–2016 recession. Thanks to an effective policy of the government and higher oil prices GDP is expected to grow by 1.7% in 2018 which will also be supported by a rise in credit and other additional income of the people, it said.

In 2019, the growth of GDP will slow down to 1.5%, and inflation will reach around 4% unless structural reforms are conducted.

End