The International Monetary Fund in a report today, Tuesday, improved its expectations for the performance of the Russian economy for the current year 2022, but lowered its expectations for the performance of the Russian economy for the next 2023.
The fund has improved its forecast for the performance of the Russian economy in 2022, as it now expects a 6% decline after previous expectations of an 8.5% decline.
As for the upcoming 2023, the International Monetary Fund expects the Russian economy to fall by 3.5% instead of 2.3%.
The Fund also cut its global growth forecast from 3.6% to 3.2% for 2022 and from 3.6% to 2.9% for 2023.
The fund also raised its expectations for 0.9% inflation to 8.3% in 2022 and 5.7% in 2023.
The Fund’s report says: “The global economy, weakened by the epidemic, has faced several shocks: higher-than-expected inflation worldwide, especially in the US and major European countries, resulting in tighter financial conditions, along with sharper-than-expected , the slowdown in the Chinese economy, in light of the COVID-19 outbreak and related shutdowns, further negative consequences of the war in Ukraine.”
Source: Prime