The IMF raised its forecast for Russian GDP growth in 2024 to 3.2% – Kommersant

The IMF raised its forecast for Russian GDP growth in 2024 to 3.2% – Kommersant


The International Monetary Fund (IMF) has improved its forecast for Russian GDP growth in 2024 from 2.6% to 3.2%, as follows from the April World Economic Review World Economic Outlook. The IMF raised its forecast for Russian economic growth for this year from 3.1% to 3.2%.

According to IMF forecasts, by the end of 2025 the overall inflation rate will decline to 2.4%. In 2024 it will remain at 2.8%.

The IMF kept its inflation forecasts in countries with developed economies at 2.6%; in 2025, the fund expects a decrease to 2%. The IMF worsened the forecast for emerging market and developing countries to 8.1% and 6.2%, respectively. The growth forecast for the Chinese economy has not changed – growth is expected at 4.6% in 2024, and at 4.1% in 2025. Analysts have improved India’s GDP growth to 6.8% for 2024; growth is still expected at 6.5% in 2025.

On April 12, Russian President Vladimir Putin said during a meeting on economic issues that GDP will grow to 3.6% in 2023. According to him, the average global GDP growth rate last year was 3%, and among developed countries – 1.5%. On February 7, Rosstat estimated GDP growth in 2023 at 3.6%. The figure turned out to be higher than the estimate of the Ministry of Economy, which predicted growth at 3.5%.

Read more about GDP dynamics in the Kommersant article. “Inventories have a significant impact on GDP prospects”.


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