The Russian economy has returned to growth. The inflation target of 4% has been comfortably met, and the rouble has been appreciating. However, in the absence of reforms, GDP growth will not exceed 2% even in the medium run – lower than the country’s European peers. No major changes in economic policies are expected, as stability at home coupled with external threats is cherished over reform risks. Sanctions and a poor investment climate are here to stay. Higher oil prices are once again serving as both a buffer and a deterrent to reform.

map Russia
Main Economic Indicators201520162017201820192020
Population, 1000 persons146406146675146841...
GDP, real change in %-2.5-
GDP per capita (EUR at PPP)187001830018600...
Gross industrial production, real change in %-
Unemployment rate - LFS, in %, average5.
Average gross monthly wages, EUR502494594...
Consumer prices, % p.a.
Fiscal balance in % of GDP-3.4-3.7-1.5...
Public debt in % of GDP13.112.913.0...
Current account in % of GDP4.
FDI inflow, EUR mn61632938124702...
Gross external debt in % of GDP38.541.931.1...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


RUSSIAN FEDERATION: Falling behind peers on meagre growth

Peter Havlik
in: Riding the Global Growth Wave
wiiw Forecast Report No. Spring 2018, March 2018 , pp. 134-137
Details and Buy


Monthly Report No. 11/2017

Amat Adarov, Vasily Astrov, Julian Hinz, Evgenii Monastyrenko and Sandor Richter
wiiw Monthly Report No. 11, November 2017
47 pages including 3 Table and 21 Figures