14:59 GMT +323 June 2017
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    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.

    IMF Sees Inflation in Russia on Track to Meet Central Bank’s 4% Target in 2017

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    According to International Monetary Fund, Inflation in Russia is declining driven by the ruble's appreciation and is estimated to reach the Russian Central Bank's target of 4 percent this year.

    MOSCOW (Sputnik) Inflation in Russia is declining driven by the ruble's appreciation and is estimated to reach the Russian Central Bank's target of 4 percent this year, the International Monetary Fund (IMF) said Friday.

    "Inflation [in Russia] continues to decline, driven by the ruble appreciation and still weak consumer demand, and is forecasted to reach the Central Bank’s 4 percent target this year and to remain close to it thereafter," the 2017 IMF Article IV mission to Russia said in a statement following its visit to Moscow.

    Russia's GDP growth in 2017 is expected come to 1.4 percent as the Russian economy rebounds from a two-year recession aided by effective government policies and higher oil prices, the International Monetary Fund (IMF) said Friday.

    "The economy is exiting a two-year recession that, thanks to the [Russian] authorities’ effective policy response and the existence of robust buffers, proved shallower than past downturns. Growth is expected to reach 1.4 percent this year, supported by easier financial conditions and higher oil prices," the 2017 IMF Article IV mission to Russia said in a statement following its visit to Moscow.

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    GDP, inflation, International Monetary Fund, Russia
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