IMF forecast for growth in Russia's GDP in 2024 not overly optimistic - first deputy PM

MOSCOW. Feb 27 (Interfax) - The International Monetary Fund's forecast for Russia's economy to grow 2.6% in 2024 is not overly optimistic, as growth could "quite calmly" exceed 2%, First Deputy Prime Minister Andrei Belousov told reporters.

"I do not consider it to be overly optimistic [the IMF's forecast for GDP growth of 2.6% in 2024]. Yes, it could be more than 2% [growth in 2024] quite calmly," Belousov said, recalling the Economic Development Ministry's current forecast [for growth of 2.3% in 2024].

As reported, the IMF at the end of January raised its forecast for growth in Russia's GDP to 2.6% from 1.1%.

The Central Bank of Russia (CBR) on February 16 raised its forecast to only 1.0%-2.0% for 2024 from 0.5%-1.5% previously.

Consequently, the CBR's updated forecast for growth in Russia's GDP for 2024 is still lower than the Economic Development Ministry's current official forecast of 2.3% from September, and the IMF's forecast.

The consensus forecast of analysts surveyed by Interfax in early February is within the CBR's range and projects growth of 1.4% in 2024.