The International Monetary Fund (IMF) has improved its forecast for Russia's GDP growth in 2023 to 0.7%, and in 2024 – by 1.3%. The growth forecast for the current year was revised up by 0.4% and reduced by 0.8% in 2024 compared to the January estimate. IMF Chief Economist Pierre-Olivier Gourincha said that the price of Russian oil on world markets is declining, and budget revenues are also declining accordingly. The unemployment rate in Russia is expected to decrease to 3.6% in 2023 and rise again to 4.3% in 2024.