Russia’s economy ‘in for very tough times’ despite improved growth outlook, IMF managing director says

IMF Managing Director Kristalina Georgieva says Russia 's current production and consumption patterns are "pretty much what the Soviet Union used to look like" In late January , the IMF more than doubled its forecast for the pace of Russia 's economic growth this year , raising it from 1.1% in October to 2.6% .

Russia 's economy has proven to be surprisingly resilient amid waves of Western sanctions.