The International Monetary Fund has again revised the economic outlook for Russia. This year's contraction of the Russian economy is ecpected at 1.2% of GDP, and in the future - an increase of 1.0%.

In April this year, the expected depth of the recession in Russia was estimated at 1.8% for 2016, and in May - 1.5%.

Current adjustments were made on the basis of the regular annual review of the Russian economy, conducted by specialists of the Fund in accordance with the statutory requirements of the organization. These results are discussed at the end of June in a meeting of the IMF Board of Directors.

Forecast for 2017 remains the same as in May.

The Russian authorities are even more optimistic. According to the official forecast of Ministry of Economic Development, a decline in GDP of 0.2% will be observed in 2016.