Russian Economic Growth rates in the Next Few Years

In the next three years, Russia's economic growth rates will not exceed 2.5% a year, Alexei Ulyukaev, Minister of Economic Development said at the GaidarForum-2014.


In 2013, the Russian economic growth rates turned out to be below the global average indices and it seems to all appearances such a ratio will prevail in the next few years.


In the existing situation, a major problem of promotion of business activities is motivation of business by means of optimization of the institutional structure, boosting of efficiency and reduction of risks. Due to the above, formation of the efficient mechanism of cost management both on the micro-level and the macro-level is becoming an urgent issue. It concerns not only costs related to natural monopolies and tariffs on their services, but also costs related to labor remuneration. Predictability of the tariff policy within certain period of time will permit business entities to assess adequately changes in costs and, thus, adjust the lines of utilization of revenues as regards short-term and long-term goals of development.


О.I. Izraydnova, Head of the Structural Policy Department