MOSCOW (Reuters) - The International Monetary Fund has lowered its 2015 and 2016 economic growth forecasts for Russia, the Fund revealed in its World Economic Outlook published on Tuesday.
The Fund now expects Russia's economy to contract by 3.8 percent in 2015 and by 0.6 percent in 2016, down from its previous forecasts of a 3.4 contraction this year and 0.2 percent growth next year.
The revision brings the IMF into line with the World Bank, which has also recently lowered its Russian growth forecasts.
Economists in general have been lowering their forecasts, as a renewed slide in the oil price and global economic chill lead to expectations of a longer and deeper slump in Russia.
(Reporting By Jason Bush; Editing by Alexander Winning)
