Cheaper Oil And Sanctions Weigh On Russia’s Growth Outlook

The International Monetary Fund published a survey in August 2015 regarding Russia's economic growth outlook.

According to this economic health check, Russia's economy was expected to contract by 3.4% in 2015, although growth should return in 2016. Medium-term growth prospects were modest due to slow progress in implementing structural reforms.

The IMF also suggested that sanctions linked to the Ukraine crisis could end up costing Russia 9% of its gross domestic product.

• Primary Source

ESO: Background information: The Russian economy. Will Russia ever catch up? http://www.europeansources.info/record/the-russian-economy-will-russia-ever-catch-up/

EurActiv, 04.08.15: IMF says Western sanctions could cut 9% off Russia's GDP http://www.euractiv.com/sections/europes-east/imf-says-western-sanctions-could-cut-9-russias-gdp-316776

The Telegraph, 03.08.15: Western sanctions are hitting Russia harder than anyone realised http://www.telegraph.co.uk/finance/economics/11780708/Western-sanctions-are-hitting-Russia-harder-than-anyone-realised.html

The Wall Street Journal, 03.08.15: IMF Says Sanctions Take Toll On Russia http://www.wsj.com/articles/imf-says-sanctions-take-toll-on-russia-1438657218

Sputnik International, 03.08.15: Russia Successful in Stabilizing Banking Sector – IMF http://sputniknews.com/russia/20150803/1025349853.html

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