The International Monetary Fund (IMF) expects 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.
Overall, it said the world economy had been "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.
Despite the Kremlin being sanctioned over its invasion of Ukraine, the IMF upgraded its 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 had promoted growth alongside strong exports of oil, according to Petya Koeva Brooks, deputy director at the IMF.
Russia is one of the world's biggest oil exporters and in February, the BBC revealed millions of barrels of fuel made from Russian oil were still being imported to the UK despite sanctions.
“All tyrannies rule through fraud and force, but once the fraud is exposed they must rely exclusively on force.” — George Orwell
Post by JoyinMudville on May 8, 2024 12:24:13 GMT -5
Gazprom falls to first annual loss in 20 years as trade with Europe hit Results highlight the dramatic decline of Gazprom since Russia launched its full-scale invasion of Ukraine in 2022.
Kremlin-owned gas giant Gazprom has said it plunged to a net loss of 629 billion roubles ($6.9bn) in 2023, its first annual loss in more than 20 years, amid dwindling gas trade with Europe, once its main sales market.
The results released on Thursday highlight the dramatic decline of Gazprom, which since the collapse of the Soviet Union has been one of Russia’s most powerful companies and was often used as leverage to solve disputes with its neighbours, such as Ukraine and Moldova.
Analysts had expected net income of 447 billion roubles ($4.81bn), according to the Interfax news agency.
According to Reuters analysis, it was Gazprom’s first annual loss since the late 1990s/early 2000s, when Alexei Miller, an ally of President Vladimir Putin, took over the company in 2001.
Gazprom’s 2023 loss followed a net profit of 1.2 trillion roubles (12.9bn) in 2022.
The company, now based in St Petersburg, made heavy losses in the late 1990s after it racked up foreign-currency debt, inflated in rouble terms by the financial crisis of 1998.
Gazprom shares in Moscow were down about 3.3 percent at 13:07 GMT.
According to Reuters’s calculations, Gazprom’s natural gas supplies to Europe plummeted 55.6 percent to 28.3 billion cubic metres (bcm) in 2023.
Gazprom has not published its own export statistics since the start of 2023.
Russia’s gas exports to Europe, once its primary export market, have slumped because of the political fallout from the invasion of Ukraine, while Gazprom, which has a monopoly on piping gas abroad, has been the most tangible victim of Western sanctions.
msmaggie: Think the gov nominee gives Dems a shot at turning NC blue.
Mar 19, 2024 13:24:22 GMT -5
Deleted: sprightly, I am registered with both, but no joy so far.
Feb 19, 2021 16:58:17 GMT -5
rocketwolf: Wife's arm is sore today, mine is painless.
Feb 19, 2021 16:12:43 GMT -5
Sprightly: Good to hear, rocketwolf. Hopefully your second dose is as easy.
Feb 19, 2021 13:09:10 GMT -5
Sprightly: Did you try the CVS and Giant, motr2?
Feb 19, 2021 12:51:12 GMT -5
Deleted: Anyone have a good source in Frederick County? I'm no more lists than I can track, but not even a nibble yet.
Feb 19, 2021 8:55:55 GMT -5
rocketwolf: Yes Eastern Shore thereof, so far no reaction even at the injection site same with wife.
Feb 18, 2021 19:18:21 GMT -5
Sprightly: Glad that you were both able to receive it, rocketwolf. I forget - are you in MD?
Feb 18, 2021 15:59:54 GMT -5
rocketwolf: OK Wife Sister and I got our first shot this morning at Walmart. They are kinda slow and spastic about getting it done but it got done for us. We had registered on online mine "disappeared" from the comp. I had the email copy to prove it. It took an hour.
Feb 18, 2021 14:36:29 GMT -5
Sprightly: It is between 28-44 days max. I don't know that 44 days at the earliest is necessary. Having said that, we will know when a large number of people do or do not have a reaction at 44 days.
Feb 11, 2021 9:33:36 GMT -5
Sprightly: Spoke too soon. I will be on a 9:00 a.m. call and then on the couch for the day.
Feb 11, 2021 7:45:31 GMT -5
Sprightly: Had my second vaccine this morning, WKDWZD. At 12 hours later I am feeling okay. My arm seems to be getting sorer as the day goes on. No fever thus far. Just really tired. We shall see what the overnight brings.
Feb 10, 2021 21:25:52 GMT -5
Sprightly: WKDWZD - Here, the second Moderna vaccine is given at 28 days or so after the first. Three of five people I know who received their second became quite ill some 36 hours after the injection. Fortunately, the flu-like symptoms only last less than 24-hours.
Feb 3, 2021 22:16:03 GMT -5
Evil Yoda: I hope you at least got the Spider-powers, WKDWZD. 'Cause that's what I'm looking forward to.
Feb 3, 2021 14:40:19 GMT -5
WKDWZD: Yay! Call me Captain Invincible ... I've just survived one stabbing, and I didn't get a lollipop either.
Feb 3, 2021 12:34:29 GMT -5
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WKDWZD: Sprightly, why nervous? My second jab wont be up until 12 weeks after the first one
Feb 3, 2021 9:23:14 GMT -5
Deleted: Hoping to start the process here soon, in Frederick County.
Feb 3, 2021 9:12:16 GMT -5
Sprightly: Getting my second jab on 2/10. Nervous but doing it.
Feb 3, 2021 8:49:02 GMT -5
WKDWZD: I'm up for my first jab on Wednesday (3rd Feb).
Jan 28, 2021 17:50:22 GMT -5
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WKDWZD: I don't suppose that you would care to share your previous handle(s) on the old message board, it would be nice to know who we are addressing?
Jan 25, 2021 9:04:33 GMT -5