Russia can benefit from global warming, which will contribute to GDP growth in some countries. This conclusion was made by the IMF experts in the fund’s latest review titled “Prospects for the Development of the Global Economy”. This was reported by Bloomberg.
The review of the IMF analyzes the potential consequences of global warming. Considering the historical relationship between climate and economic production, the fund concluded that the poor countries located in hot regions where the most part of the world’s population live are most likely to suffer from an increase in average temperatures. At the same time, as the report goes, the GDP of such countries as Russia, Mongolia, Iceland, Finland, can grow because of global warming. In particular, in case of a temperature increase of only one degree Celsius Mongolia’s GDP will grow by 1.4 percent, that of Iceland - by a percent, Finland - by 0.9 percent, Russia - by 0.8 percent.
Author: Anna Dorozhkina