Page 78 - RusRPTJun24

International Monetary Fund (IMF) raised its forecast for Russia's GDP growth in 2024 to 3.2% from 2.6% in the previous January outlook.
Last month the World Bank also updated its forecast for Russia, expecting more modest GDP dynamics in 2024 with 2.2% growth (and only 1.1% GDP growth forecast for 2025).
The IMF’s outlook is traditionally more hawkish than that of domestic Russian regulators and analysts. In the latest analyst survey by the Central Bank of Russia (CBR), growth is expected to slow in 2024 to 2.1% from the surprisingly strong 3.6% in 2023, and continue to slow to 1.7% and 1.6% in the subsequent two years.
In the latest update of the economic outlook by the Ministry of Economic Development Russia’s GDP growth is expected at 2.8% in 2024, down from 3.6% in 2023. The ministry upgraded the outlook from the previous 2.3%.
The official CBR macroeconomic forecasts are here.
78 RUSSIA Country Report June 2024 www.intellinews.com