BRICS: IMF announces strong economic growth for Russia

Very bad news for the European Union and the USA! The IMF has just released its 2024 Global Economic Outlook report for the year. In this 202-page document, the Bretton Wood institution presents Russia as one of the strongest and most promising in 2024. The economy of this founding country of the BRICS supposed to collapse under the impact of Euro-American sanctions should experience growth of 3.2% in 2024. Details.

Russia 2024: growth of 3.2% for this founding country of the BRICS

This is a difficult pill for Western powers to swallow. But for the BRICS, it is a big publicity stunt. In its report released last Tuesday, the IMF revealed that Russia is doing better than Western countries in 2024. The Russian economy is expected to grow by 3.2%, outperforming that of several world economic powers which expected this founding country of the BRICS to bog down.

However, Russia has been cut off from major world markets for more than 2 years, suffering series of economic sanctions since then. Surprisingly, its economy grew by 3.6% in 2023, higher than that of the United States and Europe.

The 3.2% growth predicted by the IMF for Russia in 2024 puts the EU and the USA in a bad position. Russia, which boasts of having the largest national territory in the world, can now also boast of having ridiculed Western powers.

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BRICS expected to register more memberships in 2024

In 2001, economist Jim O'Neill, author of the BRICS idea, predicted that the cumulative growth of the BRICS would surpass that of the six largest developed economies by 2040. Today, the success of the rebels' front dollars can no longer be hidden. The BRICS are moving forward very quickly in the field of reform of the international economic order.

The IMF's economic outlook for Russia reinforces the attractiveness of the dollar rebel front. Several countries could join the coalition to benefit from the assets and economic performance of these members. But are the performances of Vladimir Putin's country sustainable in the long term?

Russia is the world's largest exporter of oil and natural gas, the world's second largest producer of natural gas and the world's third largest oil producer. Compared to China, India, Brazil, South Africa and the other BRICS member countries and their strengths, there is a small risk that it will get bogged down. The end of dollar hegemony is perhaps closer than ever.

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