IMF Upgrades Russia's GDP Growth Forecast

The IMF also raised its 2024 GDP growth estimate for Russia from 3.8% to 4.1%. However, analysts downgraded the forecast for next year by 0.3 percentage points—to 0.9%. "A significant slowdown in growth is projected for emerging and developing European economies—from 3.4% last year to 2.1% in 2025 and 2026," the IMF report stated.

Earlier, economist Mikhail Khazin claimed that an analysis by experts from the rating agency "Expert RA" suggests Russia's economy is being artificially slowed, creating a critical situation. He argues that two scenarios are possible: a gradual deterioration or a rapid crisis. Analysts at "Expert RA" believe the most favorable outcome would be a controlled decline in GDP growth rates this year.