GDP

World Bank expects Russia’s economy to grow

The World Bank expects Russia’s economy will expand moderately over the next three-year period, with growth rates are seen at 1.3% and 1.4%. "We expect the Russian economy to grow 1.3% in 2017 and 1.4% both in 2018 and …

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 Government predicts economic growth in Russia

Russian Economic Development Minister Maxim Oreshkin said that the data for the first months of this year indicate that the Russian economy has entered a new phase of growth. However, in order to increase it, it is necessary …

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GDP of Georgia rises by 2.7%

The GDP of Georgia in 2016 amounted to $14.3 billion, exceeding the previous year’s figure by 2.7%, according to the information of the National Statistics Office of Georgia 'Geostat'. The GDP deflator was 4%. 9.9% of GDP …

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Will cash payments to be limited in Russia?

The Russian Ministry of Finance and the Ministry of Economic Development are discussing plans to limit cash payments in a bid to combat Russia’s “shadow economy.” The new measures could include a ban on …

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Will Russia overtake Europe in 33 years?

The International consulting firm PricewaterhouseCoopers (PwC) presented the report titled 'The Long View: How will the global economic order change by 2050?', where its experts said that Russia will become the leading European …

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Russia’s Central Bank: GDP declines in 2016

Russia’s GDP reduction amounted to 0.2% in 2016, but dynamics turned positive in the fourth quarter of 2016, the Central Bank reported. "In 2016, GDP reduction amounted to 0.2%. In the fourth quarter, GDP turned …

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Will Russia's retirement age to increase from 2019?

The Russian government is discussing a retirement age increase by 3 months a year for men under 65 and for 6 months a year for women under 60 starting from 2019, the Director of the Russian Pension Fund, Anton Drozdov, said. …

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Russian economy to start growing in 2017

The Russian economic situation improved in 2016 as compared with the last year, and the economy will expand about 1% in 2017, the Economic Development Minister Alexei Ulyukayev said at a meeting with Italian businessmen. …

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IMF improves outlook on Russia's economy

The International Monetary Fund (IMF) has improved the outlook for the Russian economy. In April 2016, the IMF said that Russia’s economy could decline by an additional 1.8% this year, in May it improved its outlook on Russia’s GDP …

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Ulyukayev tells what Russia should do next

The Russian Minister of Economic Development Alexei Ulyukayev published an article titled 'What to do next? in the Vedomosti newspaper today. He outlined there his program of actions which would allow the Russian economy to grow every year by 7%, as it was in the early 2000s. The Minister bases his arguments on the premise that the world economy has changed dramatically and only those developing countries that are able to adapt to these changes will keep high growth rates. "In this situation, Russia's economic policy should be aimed at increasing the potential growth, which can be achieved through better use of labor resources, accumulation of capitals through the growth of investments and increasing productivity," Ulyukayev believes.

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Fitch "cancels" Russian GDP growth

Rating agency Fitch Ratings has worsened its forecast of Russia's GDP for the current year. Previously, its experts had expected growth of this indicator by 0.5%, but now they believe that on the contrary, it will decrease by …

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