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. Last Updated: 07/27/2016

IMF Sees 4% 2001 Growth

PRAGUE, Czech Republic — Russia’s economy is set for its third successive year of growth in 2001, but long-term prospects depend on the country biting the bullet on painful structural reform, the International Monetary Fund said Tuesday.

The IMF’s World Economic Outlook, a twice-yearly report on economic prospects around the world, forecast Russian growth of 7 percent this year, slowing to 4 percent in 2001.

Last year, in its best performance since the collapse of the Soviet Union, the Russian economy grew 3.2 percent.

"The Russian economy is continuing its rapid recovery from the financial crisis of 1998," the IMF said, noting the positive impact of the 1998 collapse of the ruble and a steep rise in the price of oil.