IMF raises growth forecast for Russia’s GDP in 2019

© RIA Novosti / Natalia to Seliverstova in photobacteria the International monetary Fund in Washington. Archival photoIMF raises growth forecast for Russia’s GDP in 2019© RIA Novosti / Natalia to Seliverstova the image Bank

The international monetary Fund (IMF) raised its growth forecast for Russia’s GDP in 2019, by 0.3 percentage points to 1.8%, it said in a regular review of the world economy World Economic Outlook (WEO) for October.

In April and July forecasts, the IMF wrote that the Russian economy will grow 1.7 percent in 2018 and 1.5% in 2019.

However, in the October forecast, the Fund expects the Russian economy growth in 2019 is already at 1.8%. The forecast for GDP growth in Russia in 2018 has not changed is 1.7%.

In many ways, the change of Outlook to 2019 due to higher energy prices, follows from the explanations of the Fund.

«Nigeria, Kazakhstan, Russia and Saudi Arabia are among the oil exporters, who will benefit from higher oil prices,» — said the chief economist of the International monetary Fund Maurice Obstfeld, commenting on the forecast.

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