The Russian economy will lag behind the economic growth rates of Eastern European countries, according to the outlook of the International Monetary Fund, Vedomosti reports.
According to IMF forecast for 2018-2019, Russia will have a small – up to 1.7% - acceleration of the growth, and then a slowdown up to 1.5%; so will be the growth in 2023.
The global economy in 2018-2019 will increase by 3.9% on the average, IMF forecasts, and in 2023, it will slow down up to 3.7% - it is significantly higher than the forecast for Russia.
Without structural reforms, Russia’s GDP will increase by 1.5-2%, CB RF reports. The Ministry of Economic Development forecasts the economic growth at 2.3% by 2020.
Russia will fall short of other countries of the Eastern Europe in the economic growth and will not reduce the gap with developed economies, IMF considers.
The economic growth is hindered by the weak development of infrastructure, population ageing, excessive state presence in the economy, insufficient integration in global economy and geopolitical risks, which reduce private investments.
It should be reminded that the International Monetary Fund maintained Ukraine’s GDP growth forecast in 2018 at 3.2%.
Meanwhile, IMF worsened the country’s GDP growth forecast for 2019 from 4% to 3.3%.
