Prospects for recovery of economic growth in Russia

Abstract

To date, a unique set of conditions has developed in the Russian economy, ensuring the potential to increase annual GDP growth rates up to 3–5% in the next two-to-three years. This article, based on the report of the RAS Institute of Economic Forecasting presented at the RAS Presidium meeting on March 29, 2016, enumerates the factors related to the institutional imperatives and key macroeconomic and financial measures for recovery of production growth in the basic sectors of the economy in the short term, substantiates them, and discloses the characteristic features of economic development in the medium and long term.