The IMF confirms the gradual recovery of the Russian economy in 2017

The Russian economy will gradually recover this year. This is stated in a statement released on Monday document the International monetary Fund. Thus, the organization confirmed its April forecast of recovery of the Russian economy. The Fund also observes a decrease of core inflation in the country, calling it “significant.”

photo: Gennady Cherkasov

On Monday it became known that the international monetary Fund reaffirms its forecast, announced in April, the gradual recovery of the Russian economy this year. This statement is contained in Bulletin “prospects for the global economy.”

“The economy of the Russian Federation, according to the forecast, will gradually recover in 2017, in line with the April forecast,” he said.

The experts of the Fund also reported witnessing in Russia the decline in core inflation, calling it “significant.”

“Core inflation basically stable in emerging market countries, and in several of them, such as Brazil and Russia, it has fallen significantly,” – said in the Bulletin.

The April forecast of the organization stated that real GDP growth in Russia in 2017 will be at the level of 1.4%. Next year, the IMF experts promise the same performance.

Further growth of the Russian economy associated with predicted Fund the stabilization and growth of quotations of “black gold” to world markets, a recovery in real wages and increase the profits of enterprises.

Confirming the prediction of the recovery of the Russian economy against the background of improved situation in the oil markets, the international monetary Fund has lowered the forecast of world oil prices for the current and following years.

As stated in the updated July Outlook, in 2017 the price of oil will be $51,9 per barrel, and in 2018 – $52. In the previous forecast of the barrel “black gold” was evaluated higher by approximately three dollars. The observed decrease in quotations due to higher stocks of raw materials in the United States.

“Oil prices decreased due to high inventory levels of crude oil in the U.S. and increasing supply. General inflation has also generally declined with the weakening of the impact of rising commodity prices that occurred in the second half of 2016, still far below the targets of regulators in most advanced economies,” reads the document.

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