The IMF Is Surprisingly Upbeat About Russia's Economy

 

RT: IMF upgrades Russian economy forecast 

The fund expects 0.3% growth in 2023, having previously predicted a contraction The International Monetary Fund has revised upwards its estimate of Russian economic development, projecting GDP to grow by 0.3% this year, and 2.1% in 2024. 

According to the fund’s World Economic Outlook update published on Monday, Russia’s GDP fell by 2.2% last year. In its October forecast, the IMF reported that the decline was expected to be 3.4%. For this year, the fund previously predicted a drop of 2.3%, and for 2024, a 2.1% decline.

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WNU Editor: The IMF expects Russia's economy to grow 0.3% this year, a reversal from its contraction of 2.2.% in 2022. 

I think the IMF's numbers for 2022 are wrong. From what I have seen and heard high energy prices and war spending boosted the Russian economy into positive growth. And as for 2023. I expect more growth than the 0.3% that the IMF is forecasting. 

Of course this is all contingent on how the war in Ukraine shapes up in the coming months. But there is one thing that is clear. Sanctions did not "crater" Russia's currency as President Biden predicted last March, and there has been no Russian economic collapse.  

Update: This is embarrassing for the UK government .... No 10 insists UK economy is strong despite IMF warning it will fare worse than any other in developed world - including Russia (SKY News). And they are not alone. Germany is in recession. Sweden is in recession. And the sources that I trust see the EU economy as a whole looking dismal for the rest of the year.

The IMF Is Surprisingly Upbeat About Russia's Economy  

The IMF thinks we may actually skirt a recession. It is also surprisingly upbeat about Russia's economy. -- Business Insider  

IMF improves economic forecast for the eurozone and Russia amid energy crisis and raging war -- Euronews  

Are Western sanctions working on Russia’s growing economy? -- The Week