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

Author

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  • Drobyshevsky Sergey

    (Gaidar Institute for Economic Policy)

  • Kazakova Maria

    (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.

Suggested Citation

  • Drobyshevsky Sergey & Kazakova Maria, 2017. "Decomposition of Russia’s GDP growth rates in 2016–2019," Published Papers ppaper-2017-275, Gaidar Institute for Economic Policy, revised 2017.
    • Handle: RePEc:gai:ppaper:ppaper-2017-275
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    Keywords

    Russian economy; GDP;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General

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