IMF forecasts slow Russian economic growth in 2019 due to lower oil prices and higher taxes
"Russia's economy continues to show moderate growth, under sound macroeconomic policies but with structural constraints and the effects of sanctions," the IMF said in a report on the Russian economy.
The International Monetary Fund on Wednesday forecast that lower oil prices and higher taxes would slow Russian economic growth in 2019 and said Moscow's medium-term growth outlook would remain modest unless it tackled deeper structural reforms. Growth was seen expanding to 1.9% next year and could be boosted by public spending on infrastructure, but would settle in at a moderate 1.8% in the longer-run, absent deeper structural reforms, the IMF said.
The IMF's executive directors urged Russia to work to accelerate potential growth, address institutional weaknesses and governance issues, strengthen the financial sector and boost investment and productivity.
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