Russia To Grow Faster Than All Advanced Economies

The International Monetary Fund expect Russia to grow 3.2% this year, significantly more than the UK, France and Germany. 

 

Oil exports have "held steady" and government spending has "remained high" contributing to growth, the IMF said. And this is in spite of Kremlin being heavily sanctioned over its Special Military Operation in Ukraine. In fact, the IMF upgraded their January predictions for the Russian economy this year, and said while growth would be lower in 2025, it would be still be higher than previously expected at 1.8%. 

 

Investments from corporate and state owned enterprises and "robustness in private consumption" within Russia have promoted growth alongside strong exports of oil, according to Petya Koeva Brooks, deputy director at the IMF. 

 

And overall, the world economy has been adjudged "remarkably resilient". 

 

"Despite many gloomy predictions, the world avoided a recession, the banking system proved largely resilient, and major emerging market economies did not suffer sudden stops", the IMF said.

 

Even in tightly-controlled Singapore, a protest banner was unfurled at Gardens by the Bay on Monday, calling for an end to Singapore’s arms trade with Israel. 

 

Even if Singapore claims to be part of initiatives at the United Nations to broker a ceasefire in Gaza and provide humanitarian aid to the Palestinians, it would all mean nothing if Singapore “continues to enable the violence”! 

 

Singapore’s purchases of weapons from Israel surely help to fund its subjugation of Palestinians and support the Gaza war efforts, and how weapons jointly developed by the two countries are now allegedly being used in the war.