Russian Federation: Report on Post-Program Monitoring Discussions

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.
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Volume/Issue: Volume 2001 Issue 102
Publication date: July 2001
ISBN: 9781451832990
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Business and Economics , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , 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

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Summary

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.

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