“At the current oil price cap level of the Group of Seven, Russian crude oil export volumes are not expected to be significantly affected, with Russian trade continuing to be redirected from sanctioning to non-sanctioning countries,” the IMF said in its updated World Economic Outlook on Monday.
The International Monetary Fund (IMF) revised Russia's economic growth forecast upward by 2.6 percentage points to 0.3% in 2023, according to its updated World Economic Outlook (WEO).
The IMF also projected that in 2024, economic growth in Russia will reach 2.1%, which is 0.6 percentage points better than its previous forecast.
The WEO also noted that the economic contraction of -2.2% in Russia in 2022 was much smaller than it had predicted at -3.4%.
The IMF also projected that in 2024, economic growth in Russia will reach 2.1%, which is 0.6 percentage points better than its previous forecast.
The WEO also noted that the economic contraction of -2.2% in Russia in 2022 was much smaller than it had predicted at -3.4%.