For a long time now, officials in Moscow have spoken of a desire to see Russia become the world’s fifth largest economy, measured by purchasing power parity. The Kremlin believes 2020 will be the year it finally happens.
Putin’s chief economic advisor Maxim Oreshkin said on Monday that estimates from the International Monetary Fund (IMF) and post-pandemic GDP projections suggest Russia is poised to meet the target. His comments came as the Ministry of Economic Development revised its estimate of the decline in Russia’s economy in 2020 from 5% to 3.9%.
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