According to the January 2022 World Economic Outlook, the International Monetary Fund improved its forecast for the Russian economy, exceeding that of the Russian Ministry of Economic Development and the World Bank.
According to the IMF, Russia’s GDP contracted 2.2% last year (vs 3.4% expected). This year, the fund expects Russia’s GDP to rise by 0.3% (vs 2.3% decline expected in the October forecast), and by 2.1% in 2024.
Economic growth in the US is projected to slow from 2% in 2022 to 1.4% in 2023, and then to 1% in 2024.
China’s growth was 3% in 2022, this year it is expected to reach 5.2% and 4.5% in 2023.
India’s economy grew by 6.8% last year, a slight slowdown to 6.1% is expected this year, and in 2024 growth will return to the 2022 level.
Global growth is projected to decline from 3.4% in 2022 to 2.9% in 2023, then rise to 3.1% in 2024. Compared with the October forecast, the 2022 results were more optimistic by 0.2%.
