IMF revised forecasts for GDP dynamics in the world and in Russia

The International Monetary Fund (IMF) lowered forecast growth of the global economy for 2023 to 2.7%. In the July forecast, an increase of 2.9% was expected. The forecast for the current year remained unchanged. Among the challenges facing the global economy, the IMF named the armed conflict in Ukraine, inflation and slowdown in China.

According to IMF forecasts, the recession will affect countries representing about a third of the global economy. In particular, the expectations for GDP growth in the US, the Eurozone and China have been revised downward. At the same time, the forecast for Russia has been improved. Thanks to the measures of the Russian authorities to stimulate the economy, the recession in 2022 and 2023 is not expected to be as deep as in July forecast.