JRL NEWSWATCH: “Economic ‘Momentum’ Prompts IMF to Raise Russia’s Growth Forecast” – AFP/ Moscow Times

“The [IMF] raised its 2023 economic growth forecast for Russia on Tuesday, predicting that deficit-fueled government spending would help counteract the growing costs of its war in Ukraine. But the Russian invasion is expected to have a significant impact over the medium term, with the IMF predicting the Russian economy would be about 7% smaller by 2027 than pre-war forecasts would have indicated …. The IMF expects Russia’s budget deficit will reach 6.2% of GDP this year … almost three times … last year’s …. Russia’s current account surplus is also predicted to decline sharply to 3.6% of GDP this year from 10.3% a year earlier, due to much weaker terms of trade, lower energy volumes, and a recovery of imports ….”

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