What Will Russian Gdp Growth Be Like In The Next 9 Years? | russian gdp growth

A recent article by William Easterly on the Economic Development Strategy of the Russian Government, which was released at the Inter-Parliamentary Union in London, showed that Russia's GDP Growth Rate is slowing down considerably. Easterly states, “The state has made a concerted effort to increase its exports of goods and energy to raise its purchasing power” and “To this end, the government is encouraging citizens to invest in real estate. This may seem odd since most people have money invested in the stock market, but it's a good illustration of how Russia is trying to increase its purchasing power.”

Although this is an interesting observation, I am not too sure how effective such methods of increased purchasing power are on the macro level, especially when it is obvious that Russia's GDP growth rate is slowing significantly. Russia, or the Russian Federal Republic, is an enormously transcontinental country situated in Eastern Europe and Western Asia. So, how is it possible for a nation that is so large to slow down its GDP growth rate?

First of all, in order to increase its purchasing power, one needs to be able to sell products from abroad to other countries. And as we can see from the previous paragraph, Russia is one of the few countries with which it has such access. Therefore, if the economy were to slow down significantly, the currency of the country would depreciate against the US dollar, as many people in the West, especially those who have investments in the country, would become very concerned about their financial stability.

Also, since the country is so close to so many countries, there is always the threat of an economic collapse. In order to prevent such a disaster from happening, Russia has to ensure that it maintains stable trade relations with its trading partners, as well as maintaining its financial stability. At the same time, Russia has to make sure that its people are still satisfied with their current lifestyle, as it is an integral part of the overall economic structure of the country. So the main objective of Russian economic policy has to be a balance between the two objectives.

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So, it seems that despite the fact that Russia is one of the largest economies on the globe, it is not getting the attention it should get from Western leaders for its economic development strategy. I wonder why.

At the end of the day, it will always depend on the leadership of the Russian government to decide what type of economic policies it will implement in order to achieve its goals. But if we look at the overall picture, it does look like Russia is focusing more on increasing its GDP rather than its purchasing power. The question is whether this strategy will help the economy achieve its goals or not.

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Russia GDP Annual Growth Rate 9-9 Data 9-9 - russian gdp growth

Russia GDP Annual Growth Rate 9-9 Data 9-9 – russian gdp growth | russian gdp growth