Russia’s economy ‘in for very tough times’ despite improved growth outlook, IMF managing director says

submitted by 0x815@feddit.de
edited

www.cnbc.com/2024/02/12/russias-economy-in-for-…

In late January, the International Monetary Fund more than doubled its forecast for the pace of the country’s economic growth this year, raising it from 1.1% in October to 2.6%.

Despite this, IMF Managing Director Kristalina Georgieva sees more trouble ahead for the country of roughly 145 million.

“What it tells us is that this is a war economy in which the state — which let’s remember, had a very sizeable buffer, built over many years of fiscal discipline — is investing in this war economy. If you look at Russia, today, production goes up, [for the] military, [and] consumption goes down. And that is pretty much what the Soviet Union used to look like. High level of production, low level of consumption.”

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5 Comments

Never underestimate the Russian people’s capacity for suffering.

Indeed & this aches my heart.

Think we all get why they're too cynical to kick off, but still.

by [deleted]

They did not improve, they just inflate like a Balon.

It's almost like statistics don't mean anything out of context. How weird!

Hearing this propaganda for well over a year now. Any day now, Russia gon collapse.

Nah man. Looks like they are in for the long run and we better prepare for what's coming.