Russian Federation: Staff Report for the 2006 Article IV Consultation
Volume/Issue:
Volume 2006
Issue 429
Publication date: December 2006
ISBN: 9781451975246
$18.00
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Topics covered in this book
This title contains information about the following subjects.
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Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , oil price projection , budget , projection , WEO , GDP , terms-of-trade gain , Federal Government budget , U , S , dollar , inflation projection , stabilization fund , oil price , unsterilized foreign exchange intervention , Oil prices , Inflation , Exchange rates , Global
Summary
Propelled by large terms-of-trade gains, GDP growth has accelerated and is running close to potential. The demand pressures associated with the large terms-of-trade gains are reflected in a fast real appreciation of the ruble, although more of this has come through nominal appreciation during the last year. IMF staff welcomed the greater focus on inflation control, but cautioned that additional exchange rate flexibility would be needed to meet the end-2006 target. The authorities agreed that structural reforms are behind.
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