IMF lowers its growth forecasts for Russia
07.10.2015,
07:18
In its latest World Economic Outlook published on Tuesday the International Monetary Fund (IMF) has lowered its 2015 and 2016 economic growth forecasts for Russia.
YEREVAN, October 7. / ARKA /. In its latest World Economic Outlook published on Tuesday the International Monetary Fund (IMF) has lowered its 2015 and 2016 economic growth forecasts for Russia.
The IMF now expects Russia's economy to contract by 3.8 percent in 2015 and by 0.6 percent in 2016, down from its July forecasts of a 3.4 percent contraction this year and 0.2 percent growth next year, banki.ru reported. IMF said the reasons are the falling oil prices and international sanctions against Russia.
The Fund has downgraded also its previous forecasts for CIS economies for 2015 by 0.5 percent to 2.7 percent due to their close ties with Russia, which is experiencing a recession and falling oil prices.
The Fund has cut also its growth forecasts for the world economy, warning of increasing risks from the slowdown in China, which is dragging other emerging markets down with it.
The global economy will expand just 3.1 percent this year and 3.6 percent next year, the IMF predicted, revising downward its previous forecasts by 0.2 percentage points in both cases.-0-
The IMF now expects Russia's economy to contract by 3.8 percent in 2015 and by 0.6 percent in 2016, down from its July forecasts of a 3.4 percent contraction this year and 0.2 percent growth next year, banki.ru reported. IMF said the reasons are the falling oil prices and international sanctions against Russia.
The Fund has downgraded also its previous forecasts for CIS economies for 2015 by 0.5 percent to 2.7 percent due to their close ties with Russia, which is experiencing a recession and falling oil prices.
The Fund has cut also its growth forecasts for the world economy, warning of increasing risks from the slowdown in China, which is dragging other emerging markets down with it.
The global economy will expand just 3.1 percent this year and 3.6 percent next year, the IMF predicted, revising downward its previous forecasts by 0.2 percentage points in both cases.-0-
