O International Monetary Fund (IMF) recently announced that Russia has surpassed the Japanbecoming the fourth largest economy in the world, when measured by purchasing power parity (PPP). The report World Economic Outlookreleased on Tuesday, positions the Russia just behind the China, USA e India.
According to the IMF, the gross domestic product (GDP) and Russia in 2024 represents 3,55% do PIB global based on PPCsurpassing the 3,38% of Japan.
China continues to lead with 18,8%, followed by the USA with 15% and India with 7,9%. This ranking highlights the growing economic influence of the BRICS countries, which now include three of the top four countries on this list: China, India and Russia.
The IMF document reveals that Russia’s rise may be associated with Western sanctions, which drove an aggressive import substitution policy.
Evgeny Balatskyhead of Financial University Macroeconomic Research Centercommented to Rossyiskaya Gazeta that Russia’s progress was predictable given economic circumstances.
“In recent years, Russia has overtaken its European competitors – one after another – the United Kingdom, France, Germany and now Japan,” Balatsky said.
The Russian Finance Minister, Anton Siluanovhighlighted that the participation of countries BRICS in global GDP, measured by PPP, has shown consistent growth, reaching 36.7%.
On the other hand, the participation of G7 fell from 50,42% em 1982 to 29% em 2024indicating a relative decrease in the economic influence of these more developed nations.
In addition to improving its estimate for Russian GDP growth in 2024 to 3.6%, an increase from the previous projection of 3.2%, the IMF also made less optimistic forecasts for 2025.
The institution forecasts growth of 1.3%, down from 1.5%, due to slower private consumption and investment, amid a less rigid labor market and slower wage growth.
Source: https://www.ocafezinho.com/2024/10/29/fmi-desafia-sancoes-dos-eua-e-eleva-russia-como-quarta-maior-economia-do-mundo/
