Russia's secret spending on rise, budget risks not properly assessed - IMF

MOSCOW (Reuters) - Russian public spending that is classified as secret will nearly double by 2016 to reach a quarter of all expenditures, the IMF said on Monday, urging more disclosure and analysis of budget risks.

The International Monetary Fund also said financial reporting on the public sector - which accounts for more than two-thirds of Russia's $2-trillion economy - was not comprehensive enough. The category includes government entities and state-controlled firms.