## Russian Federation: Staff Report for the 2015 Article IV Consultation

_IMF Staff Country Reports, August 3, 2015_

## Source details

**Canonical URL:** [Russian Federation: Staff Report for the 2015 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/31/russian-federation-staff-report-for-the-2015-article-iv-consultation-43143)

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## Bibliographic details
- Published: August 3, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513502441.002

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### Main findings
- Russia entered 2014 with declining potential growth owing to the stabilization of oil prices, stalled structural reforms, weak investment, declining total factor productivity, and adverse population dynamics.
- The ongoing slowdown was exacerbated by the dual external shocks from the sharp decline in oil prices and sanctions.
- The authorities took measures to stabilize the economy and the financial system.

### Outlook and projections
- Russia is expected to be in recession in 2015 owing to the sharp drop in oil prices and sanctions.
- Growth should resume in 2016 while inflation continues to decline.

### Key subject areas highlighted
- Banking, Correspondent banking, Exchange rates, External debt, Financial services, Foreign exchange, Inflation, Oil prices, Prices

### Keywords and themes emphasized
- Baltics; Correspondent banking; cost of capital; CR; exchange rate; Exchange rates; financial asset; Global; government; increase competition; Inflation; ISCR; oil price benchmark; Oil prices; public finance; resolution framework; ruble depreciation; Russia

*Russian Federation: Staff Report for the 2015 Article IV Consultation (IMF Staff Country Report No. 2015/211).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/russian-federation-staff-report-for-the-2015-article-iv-consultation-43143_