OREANDA-NEWS  Indonesia will be ahead of Russia in the list of the world's largest economies two years later than previously thought, in 2029, and not in 2027. This is evidenced by the updated forecast of the development trajectories of the International Monetary Fund (IMF), according to RBC.

The organization's April database indicates that Russia accounts for 2.95 percent of total global GDP, which allows it to be in sixth place. In accordance with the fund's expectations, the share will fall to 2.71 percent in five years. The postponement of the deadline is associated with an improvement in expectations regarding the Russian economy.

In this case, we are talking about GDP at purchasing power parity (PPP), according to which China is significantly ahead of the United States. If we talk about GDP in nominal terms, on the basis of which, as a rule, world economies are compared, then Russia ranks 11th by the end of 2023.

Earlier in April, the IMF changed its forecast for Russia's GDP growth in 2024 from 2.6 percent to 3.2 percent. This result turned out to be one and a half times better than the consensus forecast from the Bank of Russia survey (2.1 percent), and also higher than the new macro forecast from the Ministry of Economic Development, which amounted to 2.8 percent.

Indonesia's GDP growth in 2023 exceeded five percent. More than 270 million people live in the country.