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Ford drives hike in car production in Romania
1 day ago
The International Monetary Fund (IMF) confirmed it sees the Russian economy returning to health this year gradually as forecast in its April outlook.
“The Russian economy is projected to recover gradually in 2017 and 2018, in line with the April forecast,” the IMF said.
“Inflation in advanced economies remains subdued and generally below targets; it has also been declining in several emerging economies, such as Brazil, India, and Russia,” the IMF added.
The IMF projects real growth of GDP in Russia at the level of 1.4% in 2017, which is inside the range of predictions by both the government and analysts.
According to the World Bank, the Russian economy will grow by 1.3% in 2017, while Russia's economic development ministry put the figure at 2%.
The economy has picked up noticeably in the last two months with both real disposable incomes and construction activity improving. Russia’s statistics agency released a slew of numbers for June and revised the May numbers. The bottom line is while the economy took a hit from the bad weather in May, the recovery is broadly on track and life is starting to look better for the man in the street after two years of grinding pain. Real disposable incomes and construction are both in the black again after years of decline.
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