Russian Federation: 2013 Article IV Consultation
IMF Staff Country Reports, October 21, 2013
Source details
- Canonical URL
- Russian Federation: 2013 Article IV Consultation
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Bibliographic details
- Published: October 21, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484375617.002
Executive summary and outlook
- Real GDP growth in Russia has slowed, amid weak investment and external demand.
- The economy remains close to full capacity.
- Unemployment is at historic lows.
- Capacity utilization is at pre-crisis highs.
- Short-term indicators are mixed, but on balance suggest some recovery of activity in recent months, indicating a stronger growth outlook for the second half of 2013.
- The near-term outlook is for moderate growth and inflation at the upper end of the target range of the Central Bank of the Russian Federation (CBR).
Key findings
- Growth drivers and constraints:
- Weak investment.
- Weak external demand.
- Labor and capacity:
- Unemployment at historic lows.
- Capacity utilization at pre-crisis highs.
- Recent signals:
- Short-term indicators are mixed but suggest some recovery in recent months.
- Stronger growth outlook for H2 2013.
- Inflation outlook:
- Near-term inflation expected at the upper end of the CBR’s target range.
Subjects and keywords
- Subjects:
- Banking
- Correspondent banking
- Financial services
- Fiscal policy
- Fiscal rules
- Inflation
- Oil prices
- Prices
- Public debt
- Keywords:
- August
- August inflation
- Baltics
- consensus forecast
- Correspondent banking
- CR
- deficit
- fiscal policy stance
- Fiscal rules
- forecast
- Global
- Inflation
- inflation expectation
- inflation objective
- ISCR
- monetary policy stance
- Oil prices
- outturn
International Monetary Fund. Russian Federation: 2013 Article IV Consultation. IMF Staff Country Reports 2013, 310 (2013).
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