The Russian Economy:Situation and Outlook

The Russian Economy:Situation and Outlook

ICEUR Business SeminarThe Russian Economy After Sochi

Vienna, March 03, 2014

Sergey Afontsev

Institute for World Economy and International Relations, Moscow, Russia

EU-Russia Industrialists Roundtable

Economic Dynamics in 2013 (per cent)

Mixed Performance in January 2014

Growth Rates: Russia vs. World Economy

GDP Dynamics:Comparative Perspective

Consumer Prices(percentage change)

Unemployment (per cent)

USA EU China Russia

GDP, 2009 PPP, US$ (bn) GDP, 2009 current US$ (bn)

IMEMO Growth Forecast

Fuels and Energy Still Fuel Growth

GDP Growth vs. Investment Growth

Does Russia Invest Too Little?Investment Shares in GDP

World…………………..

Developed Countries….

G7…………………….

US…………………

UK………………..

Japan……………..

EU……………………

Eurozone…………….

Germany………..

The Netherlands.

France………….

Spain……………

Greece…………

Ireland………...

Developing Markets…..

Asia…………………...

China…………….

India……………...

Latin America………….

Brazil…………….

Mexico………….

CIS……………………..

Russia……………

FDI Flows

EU – 39 per cent CIS – 28 per cent (incl. Ukraine – some 9 per cent )

R ussian Federation

42.919.3

1.6

6.3

4.4

0.8

3.7 1.1

30.9

Foreign Assets of Top 20 Russian MNEs(US$ bn, end of 2011)

Total FI stock in Russia equals $381.1 (end of December, 2013), incl. FDI $126.1 (32.8 per cent of the total).

Foreign Investment to Russia:Country Structure

Can Megaprojects Help?

Resources are still available…

…as well as international reserves