IMF says worsens Russia’s 2019–2020 GDP growth forecasts

WASHINGTON, Jan 21 (PRIME) -- The International Monetary Fund (IMF) has worsened its Russia’s 2010 gross domestic product (GDP) growth forecast by 0.2 percentage points and 0.1 percentage point in 2020 to 1.6% and 1.7%, respectively, the IMF said on Monday in its World Economic Outlook.

The outlook was worsened due to reduction in the fund’s mid-term forecast of global oil prices. The fund slashed an expected average annual oil price in 2019 by U.S. $9.81 to $58.95 per barrel to and now expects the oil price to fall to $58.74 in 2020.

The IMF also cut its expectations for the combined global GDP increase by the same 0.2 percentage points in 2019 and by 0.1 percentage point in 2020 to 3.5% and 3.6%, respectively.

End