Russian Federation: Staff Report for the 2005 Article IV Consultation

IMF Staff Country Reports, October 20, 2005

Source details

Canonical URL

Russian Federation: Staff Report for the 2005 Article IV Consultation

Other formats

• Markdown version
• Structured JSON version
• Bundle manifest

Bibliographic details

• Published: October 20, 2005
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451833126.002

Executive summary

• Russia is in its seventh year of robust economic growth.
• The strong performance was ignited by the sharp depreciation in the wake of the 1998 crisis, and subsequently sustained by large terms-of-trade gains, in combination with increased political and macroeconomic stability.
• Higher output and investment in the oil sector have been key conduits of the broad-based recovery, which is still running its course.
• Monetary policy remains relatively lax.
• The economy is expected to continue to grow robustly, although not at the pace seen before last year’s slowdown.

Key findings and drivers of growth

• Recovery origins:
  • Sharp depreciation following the 1998 crisis.
  • Large terms-of-trade gains.
  • Increased political and macroeconomic stability.
• Sectoral drivers:
  • Higher output and investment in the oil sector identified as key conduits of the recovery.
• Policy stance:
  • Monetary policy described as relatively lax.

Projections and outlook

• Short-term outlook:
  • The economy is expected to continue to grow robustly.
  • Growth is expected to be lower than the pace seen before last year’s slowdown.

Publication and metadata

• Publication title: Russian Federation: Staff Report for the 2005 Article IV Consultation
• Date: October 20, 2005
• Series: IMF Staff Country Reports 2005, 377 (Country Report No. 2005/377)
• Pages: 59
• Volume: 2005
• Issue: 377
• DOI: https://doi.org/10.5089/9781451833126.002
• Stock No: 1RUSEA2005001
• ISBN: 9781451833126
• ISSN: 1934-7685
• Also available online in Russian
• Subjects: External debt, Inflation, Oil prices, Oil, gas and mining taxes, Prices, Public debt, Taxes
• Keywords: assumption, Baltics, budget, budget to the Duma, CR, draft budget, federal government balance, Federal Government budget, forecast, gas and mining taxes, Global, Inflation, ISCR, Oil, oil export earnings, Oil prices, revenue projection, staff appraisal

International Monetary Fund. "Russian Federation: Staff Report for the 2005 Article IV Consultation", IMF Staff Country Reports 2005, 377 (2005).

Content in this bundle

• Cr05377
  • Cr05377 (Markdown version)
  • Cr05377 (PDF)
• _cr05377r
  • _cr05377r (Markdown version)
  • _cr05377r (PDF)