According to the projections, the Russian economy will grow from a low point this year. Following two years of massive recession, Russian GDP will show moderate, one and a half percent growth in 2017, calculated by the analysts assuming a continued low, USD 50–60 oil price and maintained sanctions.

Russian economic shock
In the summer of 2014 the Russian economy was dealt two blows. The introduced EU and US sanctions and the steep fall of oil prices turned Russia’s economic indicators upside down in just a moment. The nominal GDP figures of the past two years expressed in USD show the magnitude of the shock that affected this country of 150 million people. Russia rapidly devalued its currency, the rouble, to reduce the impact of the shock. Thus, the nominal GDP figures in RUB show only a minor decline.


Buy online magazine on DigitalStand

Tagged under

About us

The GLOBS is the only magazine in Hungary that focuses on foreign affairs and trade. The topics cover the different aspects of social life, business and culture (especially business culture), research and development, investment opportunities, charity initiatives, and the everyday life of the diplomatic delegations.
We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…