Russian economy overtakes US and EU in terms of growth rates - IMF report

The rate of growth of the economy of the aggressor state of russia has overtaken the USA and the European Union.

This is evidenced by the review of the world economy for January 2024 of the International Monetary Fund (IMF), the European Conservative reports.

The January 2024 World Economic Outlook Update shows that real (inflation-adjusted) US GDP growth is 2.5%, while the russian economy grew by 3.0%. According to Eurostat, the EU economy grew by 0.1% adjusted for inflation in 2023.

"Russian president vladimir putin is increasing defense spending and spending on the public this year ahead of elections in March. Russia's economy has fared much better than experts predicted following massive Western sanctions imposed in 2022 as punishment for its invasion of Ukraine," the material says.

The report states that russia has successfully weathered the sanctions and that the russian economy is not very different from other industrialized economies. A macroeconomic review based on national accounts from the UN database shows a picture of a balanced economy of the russian federation with "decent rates of growth in all directions," experts note.

As Ukrainian News Agency earlier reported, according to research by the Yermak-McFaul sanctions group, in 2023, russia almost completely resumed the import of military goods despite the sanctions.

In December, the leaders of the European Union agreed on the 12th package of sanctions against the aggressor state of russia.

Also, in December 2023, it became known that a unit would be created in Great Britain to fight against companies circumventing anti-russian sanctions.