Home Economy IMF: Russia’s measures to counter sanctions were effective

IMF: Russia’s measures to counter sanctions were effective


Today, the International Monetary Fund (IMF) improved its forecast for Russia’s GDP for 2022: if in April the fund predicted a fall of 8.5% for the year, then in July it was 6%. IMF Chief Economist Pierre-Olivier Gurinsha explained that the reasons for adjusting the forecast were the results of the measures taken by the Russian government in the monetary sphere and the income of the Russian budget from the sale of resources. ), especially from the financial side, in the monetary sphere to stabilize the financial sector, were quite effective, and they helped to support the country’s economy. As for the external sector, in the first half of this year, Russia received very high export earnings due to the sale of oil and gas to other countries of the world, in particular to Europe and other regions,” Mr. Gurinsha told TASS. In April, the IMF published a forecast in which specified that the organization expects Russia’s GDP to decline by 8.5% in 2022, and by 2.3% in 2023. Then… .

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