IMF cuts Russia 2013 growth forecast to 2.5 percent

18th June 2013, Comments 0 comments

The International Monetary Fund on Tuesday cut its forecast for economic growth in Russia in 2013 to 2.5 percent from its previous projection of 3.4 percent due to weak investment and external demand.

"Russia's growth has slowed while inflation remains high. Economic activity has been constrained by weak investment and external demand," the IMF said in a statement after a staff visit to Russia this month.

© 2013 AFP

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