IMF worsens forecast for Russia’s GDP growth in 2019 to 1.1%

WASHINGTON, Oct 15 (PRIME) -- The International Monetary Fund (IMF) has again worsened its Russia’s 2019 growth forecast by 0.1 percentage point to 1.1% following a revision of the average annual oil price forecast, the IMF said on Tuesday in its World Economic Outlook.

The forecast for 2020 was kept at 1.9%.

The IMF also reduced its expectations for global oil prices by U.S. $3.74 to $61.78 per barrel in 2019 and by $5.94 to $57.94 per barrel in 2020.

The fund now expects the global economy to expand by 3% in 2019 and 3.4% in 2020, down 0.2 and 0.1 percentage points from the previous forecast, respectively. Expectations for GDP increases in the U.S., China, and the Eurozone were also reduced by 0.1–0.2 percentage points in 2019 and 2020.

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