IMF raises Russian 2024 GDP growth outlook to 3.2% from 2.6%

MOSCOW. April 16 (Interfax) - The International Monetary Fund has raised its outlook for Russian GDP growth in 2024 to 3.2% from the 2.6% it was predicting in January, the IMF said in its April World Economic Outlook update, published on Tuesday.

The IMF forecast is way above the 2.2% growth the Russian Economic Development Ministry and 1.0%-2.0% that the Central Bank of Russia are currently forecasting. First Deputy Prime Minister Andrei Belousov said recently that the Econ Ministry's forecast could be raised a few tenths of a percentage point. The ministry is due to unveil its updated three-year macro-economic forecast in April and the Central Bank of Russia its updated medium-term forecast after its April 26 board meeting.

The IMF also raised its forecast for Russian GDP growth in 2025, to 1.8% from 1.1%.