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Oreshkin Said Russia Did Not Give Up Its Goal Of Entering The World's Top Five Economies

Russian Vice President Maksim Oreshkin said, “Russia did not give up its goal of entering the world's top five economies."

Oreshkin Said Russia Did Not Give Up Its Goal Of Entering The World's Top Five Economies
Yazar: Tom Roberts

Yayınlanma: 31 Ağustos 2020 22:15

Güncellenme: 7 Kasım 2024 13:44

Oreshkin Said Russia Did Not Give Up Its Goal Of Entering The World's Top Five Economies

Russian Vice President Maksim Oreshkin stated that the country's economy could be the fifth largest economy in the world in terms of purchasing power parity (PPP) this year. Maksim Oreshkin, the deputy of Russian President Vladimir Putin and former Minister of Economic Development, said in a speech he attended at a forum that the Russian economy could surpass Germany this year and become the fifth largest economy in the world in terms of PPP. Oreshkin said, “Russia did not give up its goal of entering the world's top five economies. If you open the International Monetary Fund's (IMF) last forecast for this year, you will see that this year Russia will become the fifth economy in the world, rising to this level. For this reason, it can be said that the target in question has been achieved in this respect ”and added that the income base of the Russian budget this year will be larger than planned. Stating that Russia was prevented from entering a deep recession thanks to the anti-crisis program and the payments made to the public, Oreshkin said, "I believe that it will be possible to return to the pre-crisis level next year in terms of both employment and production." International credit rating agency Moody's expects Russia's GDP to decline 5.5 percent this year. According to the assessment of the Bank of Russia, Russia's economy will decline by 4.5-5.5 percent by the end of the year. The task of making Russia one of the five largest economies in the world was previously voiced by Russian President Vladimir Putin. The decree signed by the Russian leader on national development goals by 2030 at the end of July showed that the target was absent. However, in an interview he gave to Rossiya TV television the day before, Putin stated that the problems caused by the coronavirus epidemic in the country's economy were overcome. The Russian leader expects a recovery in Russia's economy next year.
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