Saturday, July 13, 2024

Joe Biden says arrest of American journalist in Russia for “espionage” is “absolutely illegal.”


Hello, can we see new cracks in the Russian economy following the sanctions? Thanks,


Despite the war and sanctions, the Russian economy should bounce back in 2023, with the International Monetary Fund (IMF) expecting growth of 0.7% this year, better than the 0.4% forecast three months ago, according to the latest projections released on Tuesday. .

With a sharp contraction in its GDP forecast in 2022 of 6%, Russia “only” ended the year with a 2.2% recession.

And in 2023, the situation looks better: Last October, IMF forecasts predicted a 2.3% slowdown, while at the previous update, in January, it expected a modest growth of 0.3%.

“Russia was able to maintain momentum [de 2022] Having delivered very strong financial performance last year, we expect that to continue this year.IMF Chief Economist Pierre-Olivier Gourinchas explained during a telephone press conference.

The country has accelerated its public spending, ending with a deficit of 2.2% of GDP in 2022, despite significant tax revenues linked to the sale of hydrocarbons, against the backdrop of a general increase in energy prices. “I think Russia used the fiscal space it needed to support its economy, but a significant portion of its fiscal spending was actually military spending.”Detailed Petya Koeva Brooks, Deputy Director of the IMF’s Research Department.

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Agapito Llano
Agapito Llano

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