Russian Federation: 2018 Article IV Consultation-Press Release; Staff Report
IMF Staff Country Reports, September 12, 2018
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- Russian Federation: 2018 Article IV Consultation-Press Release; Staff Report
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- Published: September 12, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484376034.002
Economic recovery and recent performance
- Russia’s economy is recovering from the 2015–2016 recession, thanks to the authorities’ effective policy response and higher oil prices.
- Output increased by 1.5 percent in 2017 on the back of robust domestic demand, but short of expectations.
Near-term projections and drivers
- Growth is projected at 1.7 percent in 2018, supported by rising credit and disposable incomes.
- Headline inflation is projected to bounce back during the second half of 2018 to 3.5 percent at year end, supported by:
- the ongoing domestic demand recovery,
- pass-through from the recent ruble depreciation,
- the fading of temporary factors.
Medium-term outlook and risks
- The medium-term outlook remains muted, owing to structural bottlenecks and the lingering impact of sanctions.
International Monetary Fund. Russian Federation: 2018 Article IV Consultation-Press Release; Staff Report
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- Country Report