IMF raises 2024 Russia forecast, cuts 2025 estimate

The International Monetary Fund (IMF) raised on Tuesday its growth outlook for Russia to 3.6 per cent in 2024, but lowered its forecast for 2025 to 1.3 per cent, according to its latest World Economic Outlook.

Inflation in Russia is expected to rise to 7.9 per cent in 2024, up from 5.9 per cent in 2023, before declining to 5.9 per cent in 2025.