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Decomposition of Russia’s GDP growth rates in 2016–2019

Sergey Drobyshevsky and Maria Kazakova ()

Published Papers from Gaidar Institute for Economic Policy

Abstract: In his Annual Presidential Address to the Federal Assembly on 30 November 2016, Russian President Vladimir Putin underscored Russia’s goal to catch up with the world average growth rates by 2019–2020. As a reminder, the IMF projects 3.7% for the average annual growth rate of the global economy in the coming three years. Earlier in November, Russia’s Ministry of Economic Development (MED) updated its forecast for Russia’s socio-economic development for 2017–2019[1] whereby a 0.6% decline is projected for Russia’s GDP in 2016, while its baseline scenarios (see below) predict that economic growth rates will be barely higher than 2% by 2020 amid low crude oil prices and a lack of structural reforms.

Keywords: Russian economy; GDP (search for similar items in EconPapers)
JEL-codes: F10 F14 F15 F40 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2017, Revised 2017
New Economics Papers: this item is included in nep-cis and nep-tra
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Handle: RePEc:gai:ppaper:ppaper-2017-275