WASHINGTON, September 11 (RIA Novosti) – The International Monetary Fund (IMF) does not predict a decline in Russian economic growth this year, IMF spokesman William Murray said Thursday.
"The IMF projection…showed a 0.2 percent growth for 2014, which is not a recession. We are not projecting a recession in Russia in 2014," Murray said.
"There is a staff visit that is planned for the second half of September and communications are planned at the conclusion of that visit," Murray added.
At the end of August, Russia's Ministry of Economic Development decided to leave its 2014 gross domestic product (GDP) growth forecast of 0.5 percent unchanged. The ministry's inflation forecast stood at 7-7.5 percent.
The Russian currency weakened at the end of August to a record low of 37.51 rubles against the dollar due to the escalating situation in Ukraine, but recovered two-thirds of the loss in the first week of September in light of renewed hopes for a resolution of the crisis.
