By Anthony Marcus, correspondent. Eurasia Business News, July 16, 2024. Article n°1096.

Photo : View on Moscow at night, 2021.

The International Monetary Fund (IMF) has lowered its forecast for Russia’s gross domestic product (GDP) growth for 2025, according to a July review of the prospects for the development of the world economy.

The forecast decreased by 0.3 percentage points, expected to reach 1.5% in 2025. At the same time, the GDP growth forecast for the current year remained unchanged at the level of 3.2%.

According to the IMF, GDP growth in Russia was 3.6% in 2023.

The global economic growth forecast for 2025 has been improved by 0.1% to 3.3%. The forecast for global inflation for next year fell to 4.4%, by 0.1%. At the same time, the inflation forecast for the current year remained unchanged – 5.9%. The IMF also raised its forecast for world trade growth for 2024-2025 to 3.1% and 3.4%, respectively.

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In April, the IMF raised its forecast for the growth of the Russian economy to 3.2% for 2024, before that, as of January, GDP growth was projected to 2.6%. At the same time, the World Bank improved its forecast for Russia’s GDP growth for 2024 to 2.2%. In addition, the GDP growth forecast for 2025 has been raised to 1.1%.

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© Copyright 2024 – Eurasia Business News. Article n°1096.