A respected global body says the Russian economy has been bolstered by oil exports and government spending.
The Russian economy will grow quicker than all of the world's advanced economies this year, according to the International Monetary Fund .
Despite being hit by severe economic sanctions over its 2022 invasion of Ukraine, steady oil exports and high government spending has bolstered Russia's economy, the IMF said in its forecast.Buoyant oil exports have helped the Russian economy power ahead of western economies. "Despite many gloomy predictions, the world avoided a recession, the banking system proved largely resilient, and major emerging market economies did not suffer sudden stops," the IMF said.
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