IMF improves forecast for Russia’s GDP growth to 4.7% in 2021

MOSCOW, Oct 12 (PRIME) -- The International Monetary Fund (IMF) has upgraded its forecast for Russia’s 2021 gross domestic product (GDP) growth to 4.7% from 4.4%, but worsened the outlook for 2022 to 2.9% from 3.1%, the authority said in the World Economic Outlook published on Tuesday.

The IMF previously said that Russia’s GDP contracted by 3% in 2020.

The forecast for the global economic growth in 2021 was worsened to 5.9% from 6%, and the expectation for 2022 remained flat at 4.9%.

The authority also increased its prediction of the average annual oil price in 2021 by U.S. $0.98 to $65.68 per barrel, and in 2022 by $1.5 to $64.5 per barrel.

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