2024-04-25 21:32:49
Four factors are helping Russia keep its economy afloat.
As Day.Az reported on Tuesday with reference to Trend, Deputy Director of the IMF Research Department Petya Koeva Brooks said this today during a briefing on the World Economic Outlook report at the IMF Spring Meetings in Washington.
She noted that the first factor is the country’s continued oil exports.
“Secondly, there is a large amount of corporate investment, including from state-owned enterprises. Thirdly, we are also seeing significant resilience in private consumption. And last but not least: government spending. Although there we are seeing a much larger increase in spending, security related and general expenses,” Brooks said.
She noted that the growth rate of the Russian economy is still significantly lower than what it was before the war in Ukraine.
“The Russian economy is expected to continue to face headwinds,” Brooks added.
It should be noted that on April 15, the Spring Meetings of the International Monetary Fund and the World Bank Group started in Washington.
Major ministerial meetings and events will be held April 17-19, and other meetings will be held April 15-20.
Key events include meetings of the Development Committee and the International Monetary and Financial Committee of the IMF, which discuss the progress of the work of the World Bank Group and the IMF.
The Spring Meetings bring together central bankers, finance and development ministers, parliamentarians, private sector representatives, civil society organizations and academics to discuss issues of global concern, including the global economy, poverty eradication, and economic development.
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