2 hours ago
1
Arthur Novosiltsev / Moskva News Agency
The International Monetary Fund connected Tuesday boosted its 2024 maturation forecast for Russia, with surging authorities spending connected the warfare continuing to supply a almighty economical stimulus for the country.
The IMF besides slashed its outlook for Ukraine, whose system and infrastructure person been battered by 2 and a fractional years of conflict. Both Russia and Ukraine are spending immense sums to proceed warring successful the war, with Moscow's authorities expenditures having helped the system turn powerfully contempt a barrage of Western sanctions.
According to its latest forecast, the IMF said it expects the Russian system to grow by 3.6% successful 2024, up from a erstwhile forecast of 3.2%. But it besides chopped its prediction for adjacent year's maturation from 1.5% to 1.3% amid signs of mounting economical problems.
Russia's Central Bank has repeatedly warned of the dangers of the government's subject spending, saying the system has been “overheating” for months. High ostentation — 8.6% successful September — and aggravated labour shortages are besides posing economical headaches for Moscow.
In a uncommon move, President Vladimir Putin acknowledged earlier this period that Russia's grounds debased unemployment of 2.4% was a “limiting factor” for the country's maturation prospects.
Russia's Central Bank has raised involvement rates to 19% successful a bid to bring ostentation nether control, and it could summation them again astatine a gathering this coming Friday.
Russia's Finance Ministry, meanwhile, projected raising subject spending adjacent twelvemonth by astir 30% to astir $145 billion, with combined defence and information spending acceptable to relationship for astir 40% of authorities expenditures.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times arsenic an "undesirable" organization, criminalizing our enactment and putting our unit astatine hazard of prosecution. This follows our earlier unjust labeling arsenic a "foreign agent."
These actions are nonstop attempts to soundlessness autarkic journalism successful Russia. The authorities assertion our enactment "discredits the decisions of the Russian leadership." We spot things differently: we strive to supply accurate, unbiased reporting connected Russia.
We, the journalists of The Moscow Times, garbage to beryllium silenced. But to proceed our work, we request your help.
Your support, nary substance however small, makes a satellite of difference. If you can, delight enactment america monthly starting from conscionable $2. It's speedy to acceptable up, and each publication makes a important impact.
By supporting The Moscow Times, you're defending open, autarkic journalism successful the look of repression. Thank you for lasting with us.
Continue
Not acceptable to enactment today?
Remind maine later.
.png "indianexpress.")
.png "khaleejtimes")
.png "arabnews")
.png "gulfnews"){kind=logo}
English (US) · 
Hindi (IN) ·