Economy: Russia's Potential

Jim O’Neill who first coined the term Bric to group together four of the world’s largest growth markets Brazil, Russia, India and China is optimistic about the Russian economy as he sees brighter days for the world’s largest country over the next 25 years.  

Even without dramatic growth rates Russia has the potential to have a far higher per capita GDP than it’s other Bric Partners. Demographics are the key to Russia’s potential, as soon as 2017 the Russian Economy will overtake Italy, then France and the UK and by around about 2030 it will of overtaking Germany to be the largest Economy in Europe.

By 2050 the Russia’s GDP will be about 4 times higher than what it is now to be worth € 5.4 trillion euros. Currently the Russian economy is reliant on commodities such as Oil and Gas but the Government is investing heavily in Russian Industry as well as its infrastructure to help balance the economy, the recent advancements in Russia’s technology sector with IPOs such as Yandex and Mail.ru are proof that generally things are heading in the right direction. Another sector that has huge potential is the Agricultural Industry as Russia has the potential to be one of the largest Agricultural players in World.