Russian Federation: 2017 Article IV Consultation-Press Release; Staff Report

July 10, 2017

Preview Citation

Format: Chicago

Russian Federation: 2017 Article IV Consultation-Press Release; Staff Report, (USA: International Monetary Fund, 2017) accessed November 8, 2024

Also available in: русский

Summary

This 2017 Article IV Consultation highlights that the Russian economy stabilized in 2016, contracting by just 0.2 percent of GDP, after being hit in 2014 by the dual shocks of lower oil prices and sanctions. The more stable oil prices and improved financial conditions will support a return to growth in 2017, with an expected increase in real GDP of 1.4 percent. Growth is forecast to continue at 1.4 percent in 2018. With adverse demographics, and barring significant structural reforms that lifts productivity, potential growth is likely to stay at about 1.50 percent over the medium term. The main risk to the outlook remains a fall in oil prices.

Subject: Fiscal policy, Fiscal rules, Fiscal stance, Inflation, Oil prices, Prices

Keywords: Banking system survey, Broad money, Central bank target, Core inflation, CR, Current account, Fiscal rules, Fiscal stance, Global, IMF staff estimate, Inflation, Inflation objective, Inflation target, ISCR, Oil price, Oil prices, Real interest rate

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/197
Stock No:

1RUSEA2017001
ISBN:

9781484308196
ISSN:

1934-7685

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