IMF lowers Russia 2024 GDP growth forecast to 1.1%
© Reuters. People walk in the Moscow International Business Center, also known as"Moskva-City" on a sunny day in Moscow, Russia May 25, 2022. REUTERS/Maxim Shemetov
"The rise in growth reflects a substantial fiscal stimulus, strong investment, and resilient consumption in the context of a tight labour market," the IMF said on Tuesday in its World Economic Outlook, in reference to this year's forecast. Russia's economy ministry forecasts 2.3% growth next year, while the Bank of Russia's forecast range is 0.5-1.5%.
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