The IMF predicts that Russia will outpace all major Western economies in terms of growth.

According to the International Monetary Fund (IMF), the Russian economy is poised to grow faster than all major advanced economies worldwide this year. In its latest global economic outlook, the IMF projects a 3.2 percent economic expansion for Russia, surpassing growth forecasts for the United States, France, Germany, and Britain. Despite enduring severe economic sanctions following its 2022 invasion of Ukraine, Russia’s economy has been buoyed by consistent oil exports and substantial government spending, as highlighted in the IMF’s forecast. Regarding the global economic landscape, the IMF emphasizes its resilience, noting that despite dire predictions, the world has averted recession, with a robust banking system and major emerging market economies avoiding abrupt downturns. The IMF, a 190-country lending organization, underscores the significant contribution to global expansion by the unexpectedly strong growth in the United States, the world’s largest economy.

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