Lagarde said the recovery of the Russian economy to “positive territory”

The managing Director of the IMF Christine Lagarde said that the Russian economy managed to overcome the crisis and go to the “positive area” of development. The Fund expects growth of the Russian economy more than 1% for the year

Christine Lagarde

(Photo /Ricardo Mazalan / AP)

According to Lagarde, expressed in an interview with TASS, the Russian government properly acted after a sharp decline in oil prices in late 2014. “Was taken the right fiscal measures, remained the control of inflation, had adopted a very sensible monetary policy, which included floating the currency, maintaining the stability of the financial sector”, — said the head of the IMF. She added that these steps have helped the country to emerge from “complex crisis” 2015-2016, which is formed on the background desejava oil and introduced against Moscow sanctions after the annexation of Crimea.

Lagarde said that, according to the IMF, Russia was able to come to positive territory development, and the economy will show growth. The Director of the Fund expects that it will be more than 1%, however accurate your forecast, the IMF will publish “a few days”.

The IMF published on Tuesday, April 18, after recording an interview with Lagarde report, which for Russia is projected to rise 1.4%.

According to the Ministry, in 2015 Russia’s GDP fell by 2.8% by the end of 2016, by 0.2%.

At the end of 2016, the experts of the Fund following the visit to Moscow predicted Russia’s GDP growth in the current year in the amount of 1.1%.

First Deputy IMF managing Director David Lipton in a January interview with RBC said that the main risks for the Russian economy linked to energy prices, the situation in the world economy and geopolitical factors.

Lagarde noted the progress in the economy of Ukraine, in particular, in monetary policy and the establishment of a floating exchange rate of the hryvnia. However, the Director of the IMF called for a more effective fight against corruption in the country. “And I very much hope that in the future the Ukrainian authorities will maintain a sound, stable financial system safe for all banks and all depositors and sufficiently liquid in order that it could function regardless of who owns the Bank capital”, — said Lagarde in an interview.

In April, the IMF approved the next tranche of the loan Ukraine $1 billion in Funds will be allocated within the four-year loan program of $17 billion and open in 2015. Of this amount, Ukraine has identified four tranches for a total of $8.3 billion.

Author:
Andrew Galinski

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