The latest in a long line of growth forecast cuts has Russia in the firing line as the IMF cut GDP estimates from 2.5% to 1.5% for 2013. The Ruskies have already cut there forecasts to 1.8% from the 3.6% they were predicting at the start of the year.
The IMF citing the Russian economy running at full capacity they said;
Growth is slowing down and risks are tilted to the downside on account of potential external and internal shocks,”
They also said that the governments restraint on spending would avoid intensifying inflationary pressures but that inflation would still exceed the 4-5% target range.
