U.S., WASHINGTON, April 16. Four factors are helping Russia to keep its economy afloat, Petya Koeva Brooks, deputy director of the IMF’s research department, said during a briefing on the World Economic Outlook held as part of the IMF Spring Meetings in Washington, Trend reports.
She noted that the first factor is the continuing oil exports from this country.
“The second part is that we've seen a lot of corporate investments, including by state-owned enterprises. The third is that we've also seen a lot of robustness in private consumption. And last but not least, we've also had the impact from government spending. Though there we've seen much larger increases in security related spending and overall spending,” Brooks said.
To put this in context, she pointed out that Russia still has growth rates that are significantly below what they were prior to the war in Ukraine.
“Russian economy is still expected, to face these headwinds,” she added.
The Spring Meetings of the International Monetary Fund and the World Bank Group kicked off on April 15.
The main ministerial meetings and events will take place April 17-19 with other events and activities taking place during the week, April 15-20.
At the heart of the gathering are meetings of the joint Development Committee and the IMF's International Monetary and Financial Committee, which discuss progress on the work of the World Bank Group and the IMF.
The Spring Meetings bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.