MOSCOW (AFP) – The International Monetary Fund on Thursday announced a less pessimistic forecast for Russias economy, predicting no more than 3.4 percent contraction in 2015 and emergence from recession in 2016.The IMF had last month predicted that the economy would contract by 3.8 percent this year and by 1.1 percent in 2016.A recession is expected in 2015 followed by a mild recovery in 2016, the IMF said in a statement released at a presentation in Moscow.GDP is expected to decline by 3.4 percent in 2015 driven by a contraction in domestic demand and weighed down by falling real wages, …read more
Source: Dunya TV
