Director, Research Department, International Monetary Fund (IMF), Olivier Blanchard does not rule out that Russia's banking sector could face a second wave of problems.

Russia's economy is largely dependent on oil prices, and the IMF is considering alternative scenarios for its development. In particular, we do not exclude a repetition of Russia's banking crisis, as well as improving the situation in Russia is not irreversible, - said . Blanchard on Thursday in Istanbul at a press briefing at the presentation of an updated review of the world economy.

Head of World Economy Research Department, IMF Joerg Dekressin reported that according to an updated review of the IMF, Russia's GDP this year to decline by 7.5% in 2010 may grow by 1.5%.

In Russia, this year we expect a very deep recession at the level of 7,5% and recover to 1.5% next year due to expected increases in oil prices and incentive packages that have been taken around the world, - said J. Dekressin.

According to him, the IMF predicts the average price of oil by the end of this year at $ 60 per barrel in 2010 is expected to increase in oil prices to $ 75 per barrel average for the year.

In this regard, he stressed the relevance to Russia and beyond its control in the energy supply of the CIS countries the positive trend in oil prices.

Meanwhile, all the same next year, oil prices remain relatively low, and this year for Russia and most CIS countries will require more time for economic recovery, said J. Dekressin.

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