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
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children
The Ministry of Health in Gaza: Gaza's hospitals recorded six deaths due to starvation and malnutrition in the past 24 hours, all of them adults
Informed sources to Al Mayadeen: A new chapter in relations between Iran and the International Atomic Energy Agency will begin within the framework of the new law passed by Parliament

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

UK: No Ukraine-Russia peace deal expected in next 12 months

Russia, Iran discuss strengthening defense cooperation in Moscow

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

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

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