Russian Federation: 2013 Article IV Consultation

Author: International Monetary Fund. European Dept.

Volume/Issue: Volume 2013 Issue 310

Publication date: October 2013

ISBN: 9781484375617

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Topics covered in this book

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Banks and Banking , Finance , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , August inflation , deficit , August , outturn , forecast , monetary policy stance , inflation expectation , consensus forecast , inflation objective , fiscal policy stance , Correspondent banking , Inflation , Oil prices , Fiscal rules , Global , Baltics

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Summary

This 2013 Article IV Consultation highlights that real GDP growth in Russia has slowed, amid weak investment and external demand. Yet, the economy remains close to full capacity, with unemployment at historic lows and capacity utilization at pre-crisis highs. Short-term indicators are mixed, but on balance suggest some recovery of activity in recent months, indicating a stronger growth outlook for the second half of 2013. The near-term outlook is for moderate growth and inflation at the upper end of the target range of the Central Bank of the Russian Federation (CBR).