Russian Federation: 2010 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

July 30, 2010

Preview Citation

Format: Chicago

Russian Federation: 2010 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2010) accessed November 23, 2024

Also available in: русский

Summary

The Russian economy has improved after the recession, but recovery is fragile. Executive Directors appreciated the pre-crisis policy of taxing and saving oil revenues in a stabilization fund, which had created significant space for fiscal expansion, monetary easing, and extraordinary liquidity support to the banking system while helping to prevent an abrupt ruble depreciation. Directors agreed that the main challenges will be to implement medium-term fiscal consolidation, mitigate pressures for real appreciation and inflation, restore the health of the banking system, and improve the investment climate through ambitious structural reforms.

Subject: Banking, External debt, Fiscal policy, Inflation, Oil prices, Prices, Public debt

Keywords: Africa, Aid initiative, Broad money, Central Asia and the Caucasus, CR, Europe, Fiscal policy, GDP, Global, Government, Inflation, ISCR, Lending, Middle East, Nonoil balance excl. one-off, Nonoil balance excl. one-off receipt, Nonoil deficit, Oil price, Oil prices, Russia

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/246
Stock No:

1RUSEA2010002
ISBN:

9781455206483
ISSN:

1934-7685

Notes

Also available in Russian.

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