Russia’s New Stagnation
In early November, the Russian government released its latest macroeconomic forecast. It could not have been an easy decision: Whereas President Vladimir Putin campaigned in 2012 on a promise that long-term annual growth would reach 5-6% by the end of his six-year term, the rate is now expected to average just 2.8% from 2013 to 2020.
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PARIS – In early November, the Russian government released its latest macroeconomic forecast. It could not have been an easy decision: Whereas President Vladimir Putin and his government campaigned in 2012 on a promise that the Russian economy would grow at 5-6% per year during his six-year term, the growth rate is now expected to average just 2.8% from 2013 to 2020.