IMF worsens Russian economic outlook, GDP to fall 3.8% in 2015
The International Monetary Fund (IMF) now expects Russian GDP to fall 3.8% in 2015, compared with the 3% drop it was expecting in January, the IMF said in its latest World Economic Outlook Update.
The IMF estimates the economy grew 0.6% in 2014.
It thinks Russian GDP might fall 1.1% in 2016. The previous forecast was for 1% decline.
The IMF left its forecast for the world economy, emerging markets and developed countries unchanged.