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Russia Growth Forecast Improves

Russia Growth Forecast ImprovesRussia Growth Forecast Improves

The International Monetary Fund improved its forecast for Russia’s economic growth this year to 1.4%, saying easier financial conditions and higher oil prices would help drive a recovery, a regular IMF report showed on Friday, Reuters reported. The fund, which in October forecast the economy would grow by 1.1% this year, said Russia was exiting a two-year recession thanks to an effective policy response from the government and because the country had robust buffers. The IMF cautioned, however, that Russia’s medium-term economic outlook would remain subdued, seeing annual economic growth at around 1.5%.

 

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