IMF cuts Russia's 2011 GDP forecast to 4.1 pct from 4.3 pct
2011-12-08 18:04:15
The International Monetary Fund has downgraded its forecast on Russia's gross domestic product in 2011 to 4.1 percent from 4.3 percent, IMF mission chief for Russia Juha Kahkonen said on Thursday.
Kahkonen told a news conference that the fund's forecast on Russia's GDP growth in 2012 was also cut to 3.5 percent from 4.1 percent, adding that there were considerable risks for the forecast's further downgrade, if world oil prices fell and the debt crisis continued to worsen in the eurozone.
Russia's Economic Development Ministry expects the country's 2011 economic growth at 4.1 percent and 3.7 percent in 2012.
As for consumer price inflation in Russia in 2011, the IMF predicts it to be below 7 percent as reduced liquidity will help curb inflation growth, he said.