World Bank predicts mixed economic outlook for emerging markets.

The World Bank has revised its outlook for the Russian economy, predicting a smaller contraction in 2023 due to stronger-than-expected revenues from energy exports to countries including India and China. The bank now expects the Russian economy to contract by just 0.2 percentage points this year, which is 3.1 percentage points higher than its previous estimate in January. The World Bank also revised upward its prediction for the world economy, expecting global growth this year to be 2.1%.