IMF worsens forecast for Russia’s GDP growth to 2.8% in 2022

WASHINGTON, Jan 25 (PRIME) -- The International Monetary Fund (IMF) has adjusted its forecast for Russia’s 2022 gross domestic product (GDP) growth to 2.8% from 2.9%, but upgraded the outlook for 2023 to 2.1% from 2%, the authority said in the World Economic Outlook published on Tuesday.

The IMF said that Russia’s GDP grew by 4.5% in 2021 after contracting by 3% in 2020.

The forecast for the global economic growth was worsened to 4.4% from 4.9% for 2022, and upgraded to 3.8% from 3.6% for 2023.

The authority also increased its prediction of the average annual oil price in 2022 by U.S. $12.8 to $77.31 per barrel, and in 2023 to $71.29 per barrel.

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