The International Monetary Fund (IMF) has raised its forecast for Russia’s economic growth in 2024 to 3.2 per cent, according to the April review of the World Economic The fund forecasted the country’s GDP growth to 2.6 per cent in January. The IMF also revised its estimate for 2025 to 1.8 per cent from 1.1 per cent.

The IMF said this dynamic is due to “a boom in investment in state-owned enterprises.”

The Fund expects the world economy to grow by 3.2 per cent in 2024 (0.1 p. p. above the January estimate). The forecast for 2025 remained at 3.2 per cent.

The improvement in the IMF’s forecast for Russia’s economic growth is primarily due to the recognition of the obvious fact that the economy has adapted to the sanctions, said Mikhail Khachaturyan, associate professor at the Department of Strategic and Innovative Development of the Financial University under the Government of Russia.
Earlier, Mikhail Mishustin, head of the Cabinet of Ministers, said during a speech in the State Duma that Russia’s GDP will increase by 3.6 per cent in 2023.

BY: TV BRICS