The IMF estimates Russia's economy will grow faster than the likes of the US, UK and Germany this year.

An influential global body has forecast Russia’s economy will grow faster than all of the world’s advanced economies, including the US, this year.

The International Monetary Fund (IMF) expects Russia to grow 3.2% this year, significantly more than the UK, France and Germany.

Oil exports have “held steady” and government spending has “remained high” contributing to growth, the IMF said.

Overall, it said the world economy had been “remarkably resilient”

“Despite many gloomy predictions, the world avoided a recession, the banking system proved largely resilient, and major emerging market economies did not suffer sudden stops,” the IMF said.

  • Wanderer@lemm.eeEnglish
    24·
    8 months ago

    Maybe other governments should take note and have high government spending?

    I’m actually serious. Let’s remove low density from cities build high density housing and loads of public transport. Spend money to decrease costs to population, thereby further increasing growth with more disposable income.