IMF and World Bank may improve outlook for Russia’s economy in fall

The IMF and the World Bank may improve the outlook for the Russian economy in fall, TASS cited a source in the Ministry of Economic Development.

"The next round of reviewing Russia’s expectations to the upside may be expected in fall," the source said, noting that the Russia’s GDP decline may total 2.3 - 2.5% instead of  2.8%.

Earlier, Russian Economic Development Minister Alexei Ulyukaev reviewed the forecast for Russia’s economic decline to 3.4% as a maximum. The minister did not rule out that there will be a third-quarter slump, but then the trend will change.