IMF Cuts Russian Economic Growth Forecast to 0.5% for Next Year

Russia’s economy will expand at 0.5 percent next year, the International Monetary Fund said, cutting its previous growth forecast in half amid fallout from the conflict in Ukraine and a weaker ruble.

The Washington-based lender reduced its forecast for 2015 from 1 percent, and maintained this year’s estimate at 0.2 percent, according to Antonio Spilimbergo, the IMF’s mission chief for Russia.