Russia's Economy Forecast to Outperform U.S. Within Two Years

[beijingwalker]

Russia's Economy Forecast to Outperform U.S. Within Two Years​

BY BRENDAN COLE ON 1/31/23 AT 6:46 AM EST

Russia's economy is expected to grow faster than that of the U.S. in 2024, according to the International Monetary Fund (IMF).

Following Vladimir Putin's invasion of Ukraine on February 24, 2022, Russia was hit by Western countries with tough economic sanctions designed to isolate it from the global financial system. In its report released Tuesday, the IMF said that Russia's gross domestic product (GDP) growth had gone into negative figures (minus 2.2 percent) in 2022.

However, the IMF predicted that Russian GDP would rebound slightly in 2023 to 0.3 percent growth, and in 2024, the Russian economy is predicted to grow by 2.1 percent.

That's higher than the IMF's projection for the United States, which it said would see only 1 percent GDP growth that year, and down from a predicted 1.4 percent in 2023, and the 2 percent the U.S. enjoyed in 2022.

The IMF listed the war in Ukraine, as well as higher interest rates by central banks, as factors that "continue to weigh on economic activity" worldwide, and the report outlined how there had been "subpar economic growth" globally.

The fund also noted that European economic growth last year "was more resilient than expected," despite the "terms-of-trade" shock from the war.

The IMF had raised its global growth outlook this year to 2.9 percent for 2023, down from 3.4 percent for 2022. It said GDP would then rise to 3.1 percent in 2024.

Boris Grozovski, a Russian economics expert from the Wilson Center think tank, told Newsweek the most interesting aspect of the IMF forecast was its estimate of 0.3 percent GDP growth for Russia this year, compared with Moscow's prediction of a 0.8 percent decline.

"In 2022, the economic downturn wasn't as severe as expected, however it will be more prolonged," he said. "Actually, the economic dynamics in 2023 will depend on the course of the war, sanctions and oil prices.

"It seems to me that it is impossible to give a clear forecast for 2023 for now, but the decline of the economy by 1 to 2 percent, given the possible continuation of mobilization in Russia, seems more likely than economic growth.

"I think 2024 is too far from now," he added.

Russia's economy forecast to outperform U.S. within two years

The International Monetary Fund reported that Russia's GDP would be over 2 percent in 2024, with the U.S. seeing 1 percent growth that year.

www.newsweek.com

 

[Mista]

And Zimbabwe is outperforming Switzerland because Zimbabwe is growing faster lmao.

 

[Ich]

And Zimbabwe is outperforming Switzerland because Zimbabwe is growing faster lmao.

Dont forgt the "Spy-Ballon-Burdon" the US has, Zimbabwe not.

 

[beijingwalker]

And Zimbabwe is outperforming Switzerland because Zimbabwe is growing faster lmao.

At least the west didn't crush Russia's economy with their sanctions as they wished for.

 

[F-22Raptor]

Russia's Economy Forecast to Outperform U.S. Within Two Years​

BY BRENDAN COLE ON 1/31/23 AT 6:46 AM EST

Russia's economy is expected to grow faster than that of the U.S. in 2024, according to the International Monetary Fund (IMF).

Following Vladimir Putin's invasion of Ukraine on February 24, 2022, Russia was hit by Western countries with tough economic sanctions designed to isolate it from the global financial system. In its report released Tuesday, the IMF said that Russia's gross domestic product (GDP) growth had gone into negative figures (minus 2.2 percent) in 2022.

However, the IMF predicted that Russian GDP would rebound slightly in 2023 to 0.3 percent growth, and in 2024, the Russian economy is predicted to grow by 2.1 percent.

That's higher than the IMF's projection for the United States, which it said would see only 1 percent GDP growth that year, and down from a predicted 1.4 percent in 2023, and the 2 percent the U.S. enjoyed in 2022.

The IMF listed the war in Ukraine, as well as higher interest rates by central banks, as factors that "continue to weigh on economic activity" worldwide, and the report outlined how there had been "subpar economic growth" globally.

The fund also noted that European economic growth last year "was more resilient than expected," despite the "terms-of-trade" shock from the war.

The IMF had raised its global growth outlook this year to 2.9 percent for 2023, down from 3.4 percent for 2022. It said GDP would then rise to 3.1 percent in 2024.

Boris Grozovski, a Russian economics expert from the Wilson Center think tank, told Newsweek the most interesting aspect of the IMF forecast was its estimate of 0.3 percent GDP growth for Russia this year, compared with Moscow's prediction of a 0.8 percent decline.

"In 2022, the economic downturn wasn't as severe as expected, however it will be more prolonged," he said. "Actually, the economic dynamics in 2023 will depend on the course of the war, sanctions and oil prices.

"It seems to me that it is impossible to give a clear forecast for 2023 for now, but the decline of the economy by 1 to 2 percent, given the possible continuation of mobilization in Russia, seems more likely than economic growth.

"I think 2024 is too far from now," he added.

Russia's economy forecast to outperform U.S. within two years

The International Monetary Fund reported that Russia's GDP would be over 2 percent in 2024, with the U.S. seeing 1 percent growth that year.

www.newsweek.com

US GDP rose $2.1T last year, larger than the entire Russia economy. US GDP should rise to $26.5-27T this year. US is quickly approaching $30T GDP

 

[beijingwalker]

US GDP rose $2.1T last year, larger than the entire Russia economy. US GDP should rise to $26.5-27T this year. US is quickly approaching $30T GDP

But did you crush Russia's economy after all those much hyped sanctions?

 

[dbc]

But did you crush Russia's economy after all those much hyped sanctions?

what planet are you living on? Russia's economy shrank 4.5% in 2022 and is projected to shrink by another 4% in 2023.

https://openknowledge.worldbank.org/bitstream/handle/10986/38098/FullReport.pdf

 

[beijingwalker]

what planet are you living on? Russia's economy shrank 4.5% in 2022 and is projected to shrink by another 4% in 2023.

https://openknowledge.worldbank.org/bitstream/handle/10986/38098/FullReport.pdf

US economy went down more in 2020, so the whole world, but it's far from being crushed.

 

[dbc]

US economy went down more in 2020, so the whole world, but it's far from being crushed.

in dollar terms yes in % terms no, but it rebounded in 2021 with a 5.95% GDP growth.
The difference is the US recession in 2020 was a direct result of COVID while Russia is facing the economic head winds from its war in Ukraine. Hardly surprising since workers are being conscripted while others are diverted to replenish supplies for the war. Further, Russia's oil and condensate output has declined by 500,000 bpd and is projected to decline by 42.5% over the next decade. I suspect it will be much higher as Putin continues to appropriate earnings from Russian O&G companies to fund his war.Remember these earning are already constricted by heavy discounts to India and China. No one expected Russia to collapse in a year but on current trajectory if nothing changes Russia will not survive the decade.

 

[Jeeten Parikh]

this is nonsensical. Russia is scrambling for gas money (!)

 

[beijingwalker]

No one expected Russia to collapse in a year but on current trajectory if nothing changes Russia will not survive the decade.

Lol, we'll see

 

[dbc]

Lol, we'll see

so your counter argument is lol. I'm speechless

 

[beijingwalker]

so your counter argument is lol. I'm speechless

You said Russia will collapse in 10 years, which indeed left me with no arguement other than wait and see.

 

[Muhammed45]

US GDP rose $2.1T last year, larger than the entire Russia economy. US GDP should rise to $26.5-27T this year. US is quickly approaching $30T GDP

US GDP = printing money

From what USA imports, indicates that the country’s economy is floating on debt not actual rise in production.

Btw, you are digging your own grave by annoying Chinese companies/investors through your stupid policies in SCS. Hopefuly you succeed in alienating them. That's when i will ask you about American GDP with that lazy population that you have.

 

[F-22Raptor]

US GDP = printing money

From what USA imports, indicates that the country’s economy is floating on debt not actual rise in production.

Btw, you are digging your own grave by annoying Chinese companies/investors through your stupid policies in SCS. Hopefuly you succeed in alienating them. That's when i will ask you about American GDP with that lazy population that you have.

US GDP per capita is over $75K with the highest median disposable income in the world. Cope some more