RIA Novosti quoted according to the World Economic Outlook that the IMF has cut its forecast for Russia’s2013 GDP growth outlook from 4% to 3.9% but left unchanged its 2012 economic growth at 4%.

The IMF also downgraded its forecast on Russia budget to a surplus of 0.1% of GDP in 2012 from its original forecast of 0.6% of GDP and to a deficit of 0.7% of GDP from 0.3% of GDP in 2013.

The IMF expects Russia state debt to stand at 11.5% of GDP in 2012, compared with 8.4% of GDP projected in April and at 11.3% of GDP in 2013 compared with the previous forecast of 7.9%.

Russia debt situation looks favorable compared to the other BRIC countries where the state debt is expected at 22% of GDP in China, 68% of GDP in India and 64.2% of GDP in Brazil.

The IMF’s forecast is above the projections of the Russian Economic Development Ministry which in April cut its forecast for Russia’s economic growth in 2012 from 3.7% to 3.4%.

In June, the Economic Development Ministry said it could revise upward by fall its GDP growth forecast to 3.7% to 4% from 3.4%.

Source - RIA Novosti

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