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Could Ukraine's strikes on Russian oil derail Biden's reelection?
Strikes on Russian oil facilities blamed on Kyiv have stoked concerns about energy prices and inflation in the U.S.
www.newsweek.com
In fact, Moscow's new 2.8% GDP projection weighs in under the IMF's latest (also upgraded) forecast, of 3.2%, released last week.
Again it might be tempting to put this resilience down to a massive defense build-up. But the Washington-based IMF had much the same assessment as President Vladimir Putin's team: a strong job market and swift wage rises are helping to power consumer spending. The fund even cautioned "there are some signs of overheating," with unemployment at a record low.
The IMF sees growth slowing to 1.8% next year, and cautioned that Russia's potential growth rate has dropped to around 1.25% from 1.7% before the war.
But for now, Russia's chugging right along.