The IMF has maintained its projection of 1.1% GDP growth for Russia in 2026 and 2027, unchanged from its April estimates. The report also noted Russia's GDP grew 4.9% in 2024 and is expected to grow 1% in 2025.
Economists believe Australia will avoid recession despite a projected contraction in GDP per capita, citing falling oil prices and a tax cut. While inflation and interest rates remain concerns, future growth is anticipated, boosted by datacenters and AI.
The World Bank has reduced its 2026 global growth forecast to 2.5%, citing Middle East conflict, rising energy prices, and market uncertainty. India remains the fastest-growing major economy, projected at 6.6% for FY26-27.
The World Bank forecasts global economic growth to slow to 2.5% this year, citing the Middle East war, rising inflation, and borrowing costs. The report highlights potential disruptions to oil flows, increased fertilizer prices, and a widening gap between developed and developing nations.
India's transportation fuel demand growth is projected to slow significantly in the latter half of 2026 due to rising fuel prices, government conservation efforts, and a weakening rupee, according to a Kpler report. The forecast for 2026 demand growth was revised down by 77,000 barrels per day.
Government forecasts indicate Italy would face negative growth without the PNRR. Even with the plan, potential GDP growth remains very low (0-0.3%) long-term. The key challenge is productivity, with hopes that reforms will sustain growth beyond 2035.
The IMF urged Britain to continue cutting government borrowing amid concerns over a Labour leadership challenge. It praised Chancellor Rachel Reeves for balancing deficit reduction and growth spending, upgrading UK growth forecasts.
Asia-Pacific economies are likely to suffer a slowdown in growth this year, as rising costs linked to the US-Israel war on Iran combine with lingering trade uncertainty to threaten global trade flows, according to forecasts by top international organisations. The predictions come despite China showing resilience in the first quarter by posting better-than-expected growth of 5 per cent and finance minister Lan Foan last week stressing that the world’s second-largest economy would remain an engine...
