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Russian economic growth came to a standstill in 2013. The collapse of investment growth has been the main factor behind the recent GDP growth slowdown. Lacking progress of diversification and modernisation remains to be another obstacle to faster economic growth. More assertive domestic and external policies represent another bottleneck. Without new reforms which would stimulate investment (including FDI) even a relatively optimistic scenario reckons with an unspectacular GDP growth during 2014‑2015.
|Main Economic Indicators||2011||2012||2013||2014||2015||2016|
|Population, 1000 persons.||142961||143202||143000||.||.||.|
|GDP, real change in %||4.3||3.4||1.3||2.1||2.9||.|
|GDP per capita (EUR at PPP)||17200||18100||18600||.||.||.|
|Gross industrial production, real change in %||4.7||2.6||0.3||.||.||.|
|Unemployment rate - LFS, in %, average||6.5||5.5||5.5||5.5||5.5||.|
|Average gross monthly wages, EUR||572||667||708||.||.||.|
|Consumer prices, % p.a.||8.5||5.1||6.8||5.5||5.0||.|
|Fiscal balance in % of GDP||1.6||0.4||-1.3||.||.||.|
|Public debt in % of GDP||9.0||10.0||10.5||.||.||.|
|Current account in % of GDP||5.1||3.6||1.6||2.5||2.2||.|
|FDI inflow, EUR mn||39557||39353||45000||.||.||.|
|Gross external debt in % of GDP||30.6||31.0||33.8||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Russian Federation: Growth stumbles – how much and for how long?
in: Animal Spirits still Dimmed: Slow Recovery Expected
wiiw Current Analyses and Forecasts No. 12, July 2013 , pp. 131-134 Details and Buy
Monthly Report No. 1/2014
Vasily Astrov, Vladimir Gligorov, Peter Havlik, Olga Pindyuk, Sandor Richter and Miklós Somai
wiiw Monthly Report No. 1, January 2014
28 pages including 10 Tables and 3 Figures Details