- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Russia’s Economic Contraction Reaches Bottom - IMF

© Sputnik / Natalia Seliverstova / Go to the mediabankLogo of the International Monetary Fund on its office
Logo of the International Monetary Fund on its office - Sputnik International
Subscribe
According to a report issued by the IMF, the economic contraction in Russia has reached its bottom and the country’s economic outlook has started to improve.

Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo in this October 10, 2012 file photo. - Sputnik International
Russia
Russia’s Banks Regulation, Supervision Improved ‘Greatly’ - IMF
WASHINGTON (Sputnik) — The economic contraction in Russia has reached its bottom and the country’s economic outlook has started to improve, the International Monetary Fund (IMF) said in the Global Prospect and Policy Challenges report on Thursday.

"In Russia, the economic contraction has reached a bottom, and the outlook has improved as a result of declining financing costs and better oil prices," the report stated.

On July 13, the IMF revised its projections for Russia’s future economic growth and said it expects the country’s GDP to remain at negative 1.2 percent. In May, the IMF anticipated a 1.5 percent decline in GDP for the rest of the year.

The revision was due to the oil market recovery that began in February, when non-OPEC nations slowed production, according to the IMF.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала