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Russian economy on positive growth territory — IMF

IMF revised upward its forecasts for Russian GDP growth in the January update to the report on global economic growth prospects, Gita Gopinath noted

WASHINGTON, February 12. /TASS/. The Russian economy is firmly "on positive growth territory" at the current stage, First Deputy Managing Director of the International Monetary Fund (IMF) Gita Gopinath said.

"You know, we are in squarely positive growth territory; it has done better than we expected," she said, commenting on the status of the Russian economy in open online interview with The Foreign Policy weekly.

IMF revised upward its forecasts for Russian GDP growth in the January update to the report on global economic growth prospects, she noted. According to new estimates, the Russian GDP will grow by 2.6% in this year and by 1.1% in 2025.

"The question is what happens over the medium term and there is considerable uncertainty," the IMF official noted. The loss of human capital, and the restricted ability for Russia to import high tech products can potentially "reduce growth in Russia into the medium term," she added.