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externalIMF: Russia doing better than expected despite sanctions

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July 27, 2022 12:11 amby The Kyiv Independent news desk
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International Monetary Fund Chief Economist Pierre-Olivier Gourinchas told AFP in an interview that higher energy prices are keeping Russia afloat despite Western sanctions. And while the IMF has upgraded Russia's GDP estimate by 2.5 percentage points, its economy is expected to shrink by 6 percent. "That's still a fairly sizable recession in Russia in 2022," Gourinchas said. 

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The Kyiv Independent news desk
Author:  The Kyiv Independent news desk
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