The International Monetary Fund upgraded its economic forecasts for Russia and Ukraine Tuesday.
It expects both to post similar annual GDP growth to the US in 2023.
The IMF also warned that inflation is going nowhere in 2024 – and called for central banks to keep interest rates high.
AdvertisementAdvertisementThe Russian and Ukrainian economies are holding up much better than was previously thought even as the war between Moscow and Kyiv rages on, the International Monetary Fund said Tuesday.
The IMF upgraded its outlook for Russia's GDP growth from 1.5% to 2.2%, citing "substantial fiscal stimulus, strong investment, and resilient consumption in the context of a tight labor market".
Persons:
—, Vladimir Putin's, ramping
Organizations:
Monetary Fund, IMF, Service, International Monetary Fund, Kremlin
Locations:
Russia, Ukraine, Moscow