Putin offers condolences over UN Ambassador Vitaly Churkin’s deathRussian Politics & Diplomacy February 20, 21:21
Russia’s Foreign Ministry lost outstanding diplomat — spokeswoman on UN envoy’s deathRussian Politics & Diplomacy February 20, 20:54
Russia's ambassador to UN Vitaly Churkin diesRussian Politics & Diplomacy February 20, 20:24
Antimonopoly service orders Apple to open official service center in Russia by May 1Business & Economy February 20, 20:18
Russian experts made no firm conclusions on resumption of flights to Egypt in near futureBusiness & Economy February 20, 20:03
Foreign Ministry elaborates draft presidential decree toughening North Korea sanctionsRussian Politics & Diplomacy February 20, 19:56
Russia and UAE to discuss upgrade of Pantsyr-S antiaircraft missile/gun systemsMilitary & Defense February 20, 18:26
Russia signs large contract on delivery of T-90MS main battle tanks to Middle EastMilitary & Defense February 20, 18:13
Russian combat engineers complete mission in Syria’s AleppoMilitary & Defense February 20, 17:59
WASHINGTON, September 29. /TASS/. The International Monetary Fund (IMF) downgraded its economic forecast for Russia as it projects recession of 3.8% in GDP for 2015 and of 0.6% for 2016 in its new analytical research prepared to annual meeting, TASS correspondent reports with reference to informed sources.
In end-June, IMF experts forecasted recession of 3.4% for 2015 and 0.2% growth for 2016 while in April the organization also projected the Russian economy will decline by 3.8% this year.
The downgrade is largely due to recent falls in oil prices on the global markets.
The IMF also expects inflation to reach 15.8% in Russia this year and 8.6% - in 2016.
All in all, the fund’s projections are in line with those given by the Russian authorities. The Central Bank said on September 11 it expects recession in Russian to stand at 3.9-4.4% of GDP this year and at 0.5-1.0% of GDP next year. Earlier the Economic Development Ministry slightly downgraded its projection on GDP decline for 2015 - to 3.6% from 3.3%.
The new report will be officially presented by the International Monetary Fund on October 6.