Page 24 - RUSRptApr17

3.2 Macro outlook
The International Monetary Fund (IMF) revised Russia’s GDP growth forecast to 1.4% for 2017 and 2018 , up from 1.1% and 1.2% expected previously, according to the World Economic Outlook published by the fund on April 18 “The pickup in activity reflects firming oil prices and a recovery in domestic demand attributable to easing financial conditions and improved confidence,” the report says.
Economic Development Minister Maxim Oreshkin unveiled a new macro forecast for 2017-20, including baseline and target scenarios in March. The baseline scenario will be used during redrafting of the 2017 budget parameters, which will take place in the near future.
Russia's GDP growth is expected at 2% in 2017 , according to the updated 2017-2020 macro forecast by Russia's Ministry of Economic Development
24 RUSSIA Country Report April 2017 www.intellinews.com