Russian Federation: 2018 Article IV Consultation-Press Release; Staff Report

September 12, 2018

Preview Citation

Format: Chicago

Russian Federation: 2018 Article IV Consultation-Press Release; Staff Report, (USA: International Monetary Fund, 2018) accessed December 21, 2024

Also available in: русский

Summary

This 2018 Article IV Consultation highlights that Russia’s economy is recovering from the 2015–2016 recession, thanks to the authorities’ effective policy response and higher oil prices. Output increased by 1.5 percent in 2017 on the back of robust domestic demand, but short of expectations. Growth is projected at 1.7 percent in 2018, supported by rising credit and disposable incomes. Headline inflation is projected to bounce back during the second half of 2018 to 3.5 percent at year end, supported by the ongoing domestic demand recovery, pass-through from the recent ruble depreciation, and the fading of temporary factors. The medium-term outlook remains muted, owing to structural bottlenecks and the lingering impact of sanctions.

Subject: Banking, Commercial banks, Correspondent banking, Financial institutions, Financial services, Inflation, Oil prices, Prices, Public debt

Keywords: Commercial banks, Correspondent banking, CR, First quarter GDP, Global, Headline CPI inflation, Headline inflation, Inflation, Inflation development, Inflation expectation, ISCR, Oil prices

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/275
Stock No:

1RUSEA2018001
ISBN:

9781484376034
ISSN:

1934-7685

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