Russian Federation : 2019 Article IV Consultation-Press Release; Staff Report

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

August 2, 2019

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

In recent years, the authorities have put in place a sound macroeconomic policy framework that has reduced uncertainty and helped weather external shocks. The current macroeconomic policy mix combines moderately tight monetary policy with a broadly neutral fiscal stance. The medium-term growth outlook remains modest due to structural constraints and sanctions. The authorities have implemented some politically difficult measures in the past year (pension reform and a VAT increase) and have announced plans aimed at raising productivity growth, including higher public spending on infrastructure, health, and education. To significantly increase Russia’s long-term growth prospects and reduce stagnation risks, deeper efforts are needed to address the large footprint of the state, overbearing regulation, and governance and institutional weaknesses.

Series:

Country Report No. 19/260

Subject:

English

Publication Date:

August 2, 2019

ISBN/ISSN:

9781513509693/1934-7685

Stock No:

1RUSEA2019001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

73

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