Kremlin thinks IMF`s change of stance on Russian economy intriguing
(MENAFN) The Kremlin has expressed intrigue over the International Monetary Fund's (IMF) noteworthy revision of Russia's GDP growth projection for 2024. In its latest World Economic Outlook update, the IMF substantially raised its forecast, anticipating a 2.6 percent expansion in the Russian Economy this year, a notable increase from the previous October estimate of 1.1 percent growth. The IMF also adjusted its 2025 forecast by 0.1 percentage point to 1.1percent.
Kremlin spokesperson Dmitry Peskov commented on the development, describing the upgraded forecast as "interesting" and noting the considerable variance in predictions from Russia's Ministry of Economic Development, the central bank, and international financial institutions. Peskov suggested that the scope for forecasting has become more defined due to these varied perspectives.
Sergey Grishunin, the director of Russia's National Rating Agency, interpreted the IMF's upward revision as an acknowledgment of the steady progress in the Russian economy. This positive assessment contrasts with earlier projections from the World Bank, which anticipated a 1.3 percent GDP growth for Russia in 2024, and the Russian Economy Ministry's expectation of a 2.3 percent expansion this year following 3.5 percent growth in 2023.
The IMF's revised outlook raises questions about the factors contributing to Russia's economic resilience and growth potential. Analysts and policymakers will closely scrutinize these developments as they evaluate the broader economic landscape and Russia's position in the global economic recovery.
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