IMF worsened its forecast for GDP growth in Russia to 1.3%
On April 8, 2014 The International Monetary Fund decreased its forecast for the Russian economic growth to 1.3% as opposed to January rate of 2%.
The IMF stated the estimation of the Russian short-term prospects and economics of other countries of CIS is worsened, due to the events in Ukraine and attendant geopolitical risks. The investments face a decrease due to the political uncertainty.
The Fund forecasts the rate of inflation in Russia to be at the level of 5.8% in 2014 and 5.3% in 2015.
According to the experts, the reasons of negative influence on the economic situation in Russia are capital outflows and trade decline due to the new eventual sanctions.
The IMF recommends Russia to pursue efforts, focused on the transition to the free exchange rate formation mechanism, keep the rate of inflation from the excessive increases and save the neutral budget course.
The experts mentioned that there is a necessity in the structure reforms, focused on the investments increase, economic diversification, deregulation and its growth support.
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