OECD Economic Surveys: Russian Federation 2011
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OECD Economic Surveys: Russian Federation 2011

OECD's 2011 Economic Survey of the Russian Federation examines recent economic developments, policies and prospects; the business climate, the fiscal framework, monetary policy, and energy efficiency.
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Publication Date :
12 Dec 2011
DOI :
10.1787/eco_surveys-rus-2011-en
 
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Author(s):
OECD
Pages :
8–9
DOI :
10.1787/eco_surveys-rus-2011-2-en

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The Russian economy is recovering from the severe 2008/9 recession, but has not yet reached pre-crisis peak activity levels. Inflation is high, although again on a declining path, not least because of the excellent harvest this year. Trend growth of around 4% is not fully exploiting opportunities provided by Russia’s rich endowment of natural resources and the high skill level of its population. This OECD Economic Survey makes recommendations for a well balanced combination of further strengthened macroeconomic policy settings, decisive improvements in the business environment, including determined efforts to reduce corruption and strengthen the rule of law, and increasing energy efficiency. Such a combination could generate synergies which will help to accelerate overall convergence and improve living standards for the Russian population.
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