IMF revised forecast for Russian economy
In its October report, the International Monetary Fund (IMF) improved its forecast for the state of the Russian economy in 2022 and 2023, RIA Novosti reports
The International Monetary Fund continues to expect a downturn in the Russian economy in the coming years, but the figures are already smaller than previously predicted. Thus, in 2022, the economy is expected to decline by 3.4 percent instead of 6 percent, and by 2.3 percent in 2023 (for comparison: 3.5 percent was predicted in July). The IMF also believes that by the end of 2022, inflation will be recorded in Russia at the level of 13.8 percent with a decrease to 5 percent in 2023. Unemployment, according to the fund, will stand at 4 percent and 4.3 percent in the current and next years, respectively.
Minister of Economic Development of the Russian Federation Maksim Reshetnikov believes that the Russian economy will overcome the recession in 2024 and begin to grow due to domestic demand.
Earlier it became known that the heads of the World Bank and the IMF announced the risk of a global recession.
