Russian recession to continue into next year, predicts IMF

The IMF expects the Russian recession to continue into next year, according to the latest issue of its World Economic Outlook, which revises downwards its previous prediction that the Russian would tip into growth  would  2016.  It is now forecasting that GDP will fall by 3.8% this year and by a  further 0.6% next year, compared to its respective predictions of 3.4% and 0.2% three months ago. It cites the simultaneous influence of factors such as low oil prices and  sanctions, as well as deeper rooted “structural weaknesses”.

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