The IMF estimates Russia's economy will grow faster than the likes of the US, UK and Germany this year.

An influential global body has forecast Russia’s economy will grow faster than all of the world’s advanced economies, including the US, this year.

The International Monetary Fund (IMF) expects Russia to grow 3.2% this year, significantly more than the UK, France and Germany.

Oil exports have “held steady” and government spending has “remained high” contributing to growth, the IMF said.

Overall, it said the world economy had been “remarkably resilient”

“Despite many gloomy predictions, the world avoided a recession, the banking system proved largely resilient, and major emerging market economies did not suffer sudden stops,” the IMF said.

  • Justas🇱🇹@sh.itjust.worksEnglish
    161·
    7 months ago

    A lot of unseen costs of this war will take decades to be seen.

    Reduced education spending? Less qualified workers to create added value.

    Reduced social services? More people getting sick and dying.

    Reduced infrastructure spending? Increased prices of transport and goods.