Apr 6, 2021
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The Russian economy was promised a better future

The International Monetary Fund (IMF) has revised its forecast for the Russian economy and promised it a better future. This is stated in the report of the organization.

The IMF believes that this year the growth of the Russian economy will amount to 3.8 percent, and in 2022, GDP will also grow by 3.8 percent. At the same time, during the pandemic year 2020, the Russian economy, according to the fund, contracted by 3.1 percent – this is one of the most positive indicators among the countries mentioned in the report. Only China and Nigeria experienced a smaller drop (2.3 and 1.8 percent of GDP, respectively).

The economy will recover quickly this year: global GDP growth is projected at 6 percent. The growth leaders in the IMF see India, China and the United States. Earlier, Bloomberg came to a similar conclusion, calling the United States and China the leaders of the post-pandemic world. At the same time, the agency stressed that recovery can be one-sided due to different rates of vaccination and different financial policies of states.

Earlier on Tuesday, April 6, the forecast for the recovery of Russian GDP was shared by the Central Bank. According to the head of the monetary policy department of the Central Bank, Kirill Tremasov, the country will return to the pre-pandemic level of GDP only at the end of 2021. “The dynamics of recovery is very heterogeneous. According to our estimates, GDP will return to the pre-pandemic level only at the end of this year, ”he said. Tremasov explained that a return to the target level of 4 percent is expected in the first half of 2022.

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