Russian Federation: Report on Post-Program Monitoring Discussions

International Monetary Fund

No 2001/102, IMF Staff Country Reports from International Monetary Fund

Abstract: Economic developments in 2000 have dominated by the strength of the balance of payments. Real GDP has grown by 7.5 percent in 2000, but the momentum has slowed during the year. The external current account surplus is estimated at US$45 billion (18 percent of GDP) in 2000, driven by the sharp increase in international energy prices and still compressed imports from the pre-crisis period. The budget has recorded a strong surplus in 2000, even though the fiscal stance has relaxed during the fourth quarter.

Keywords: ISCR; CR; monetary policy; government; fiscal policy; Russia; surplus; reform program; stock market index; current account; exchange rate; government balance; Correspondent banking; Current account; Oil prices; Global (search for similar items in EconPapers)
Pages: 51
Date: 2001-07-18
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