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Russia Growth Forecast Improves
Russia Growth Forecast Improves

Russia Growth Forecast Improves

Russia 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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