The International Monetary Fund has improved its forecast for | Ukraine Watch

The International Monetary Fund has improved its forecast for Russian GDP growth in 2023.

The IMF expects Russian GDP to grow by 0.7% in 2023 and by 1.3% in 2024. As follows from the report presented at the spring session of the governing bodies of the IMF and the World Bank, the Fund has improved by 0.4 percentage points its January forecast for the growth of the specified indicator in the Russian Federation in 2023.

The report said inflation in Russia averaged 13.8% in 2022. The Fund forecasts it will fall to 7% this year and 4.6% in 2024.

The IMF believes that unemployment in the Russian Federation will be 3.9% in 2022. The organisation estimates that it will fall to 3.6% in 2023 and rise to 4.3% in 2024.