Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Mujahideen Movement: The two were killed along with dozens of others from their family in a cowardly Zionist assassination that targeted the Sabra neighborhood today
The Palestinian Mujahideen Movement mourns the martyrdom of its Secretary-General, Asaad Attiya Abu Sharia "Abu Al-Sheikh", along with his brother Ahmad
Abu Zaid: I believe that the Iranian operation was multi-layered, combining cyber and electronic attacks with coordinated on-the-ground infiltrations by agents
Abu Zaid: Usually, archives of such sensitivity are typically protected by a full-scale security system, but it appears that Iranian intelligence managed to make use of a gap in it
Strategic military expert Nidal Abu Zaid: Iran has stripped "Israel" of the superiority and deterrence long boasted by its security minister, chief of staff, and other top officials
Fallahpour: Iran may use these documents in its battle with the United States and Western countries over its nuclear program
Fallahpour: Iran may have obtained additional documents related to "Israel's" regional projects, not just its nuclear program
Fallahpour: The coming weeks will be full of surprises, as Iran has forced Israeli intelligence agencies into a state of psychological exhaustion
Al Mayadeen's correspondent in Tehran, Siavash Fallahpour: Iran has redefined the concept of deterrence, shifting it away from traditional military balance toward a new strategic framework
Sources to Al Mayadeen: Number of documents so great that merely studying them, along with accompanying images and footage will require a great deal of time.

Russian economy exceeds expectations: IMF

  • By Al Mayadeen English
  • Source: Agencies
  • 27 Jul 2022 11:22
  • 1 Shares
3 Min Read

The latest assessment raises Russia's GDP projection for 2022 due to high oil costs.

  • x
  • Russian economy exceeds expectations, says IMF.
    Russian economy exceeds expectations, says IMF.

Despite severe Western sanctions put on Moscow in the aftermath of the war in Ukraine, the IMF stated on Tuesday that Russia's economy looks to be weathering the storm better than predicted, owing to high energy prices.

The sanctions were designed to cut Russia off from the global banking system and limit Moscow's ability to pay for the war.

However, the International Monetary Fund's new World Economic Outlook raised Russia's GDP projection for this year by a surprising 2.5 percentage points, despite the fact that the country's economy is still expected to fall by 6%.

“That’s still a fairly sizable recession in Russia in 2022,” IMF chief economist Pierre-Olivier Gourinchas told AFP in an interview.

A key reason that the downturn was not as bad as expected was that “the Russian central bank and the Russian policymakers have been able to stave off a banking panic or financial meltdown when the sanctions were first imposed,” he said.

Read next: Russian economy showing signs of resiliency - Bloomberg

Meanwhile, rising energy prices are “providing an enormous amount of revenues to the Russian economy.”

Related News

Russia’s central bank cuts interest rate in a first since 2022

DPRK's Kim vows to 'unconditionally support' Russia in Ukraine war

According to the research, Europe is bearing the brunt of the sanctions' consequences due to its reliance on Russia for energy. The situation might deteriorate rapidly if Moscow cuts off gas supplies and the European Union bans Russian oil shipped by sea beginning next year.

While major economies including the United States and China are slowing, the report said, “Russia’s economy is estimated to have contracted during the second quarter by less than previously projected, with crude oil and non-energy exports holding up better than expected.”

Meanwhile, despite the sanctions, Russia's "domestic demand has also demonstrated some resilience" as a result of government support.

But Gourinchas said “there is no rebound” ahead for Russia. “In fact,” the IMF is “revising down the Russian growth in 2023,” 1.2 points lower than the April forecast for a contraction of 3.5%.

Read next: Russia profits in nearly $20bn from oil exports in May

The existing fines, along with additional ones issued by Europe, mean that "the cumulative effect of the sanctions is also growing over time," he said.

Because of its reliance on Russia for energy, Europe is experiencing the brunt of the sanctions' impacts, according to the study. If Moscow cuts off gas supplies and the European Union prohibits Russian oil delivered by sea beginning next year, the situation might quickly deteriorate.

Read next: Greece to seek exemption from EU plan to limit gas use by 15%

  • Moscow
  • International Monetary Fund
  • Russia
  • Ukraine
  • IMF
  • Sanctions on Russia

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
A Palestinian woman mourns as she embraces the body of her daughter Mayar Abu Odeh, 8, who was killed in an Israeli army strike on Gaza. at Al-Shifa Hospital in Gaza City, Wednesday, June 4, 2025. (AP)

French port workers block arms shipment to 'Israel' amid Gaza genocide

  • Politics
  • 4 Jun 2025
New Syrian group claims Golan strike, vows resistance to 'Israel'

New Syrian group claims Golan strike, vows resistance to 'Israel'

  • Politics
  • 4 Jun 2025
Palestinians struggle to get donated food at a community kitchen in Khan Younis, southern Gaza Strip, Monday, June 2, 2025. (AP)

Boston Consulting Group withdraws from GHF

  • Palestine
  • 3 Jun 2025

Coverage

All
War on Gaza

Read Next

All
https://english.almayadeen.net/news/politics/pentagon-chief--nato-likely-to-back-trump-s-5--defence-spend
Politics

Europe spent $3 trillion on defense, but got little in return - FT

Power, parties, and scandal: Trump’s ties to Epstein: Telegraph
Europe

Power, parties, and scandal: Trump’s ties to Epstein - The Telegraph

Eilat port as seen from the sea, occupied Palestine, March 12 2009 (wikimedia commons)
Politics

YAF operations forced 80% plunge in Eilat port revenues in 2024

EU backs International Criminal Court after US sanctions judges
Europe

EU backs International Criminal Court after US sanctions judges

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS