Putin’s Ministers See a Rosy Economic Future Amid War, Sanctions
- Forecasts to 2030 match up with Putin’s pre-election pledges
- GDP, productivity targets exceed recent history, analyst says
In this pool photograph distributed by Russian state owned Sputnik agency, Vladimir Putin meets with head of the Kabardino-Balkarian Republic on Aug. 20.
Photographer: Vyacheslav Prokofyev/Sputnik/AFP/Getty ImagesThe government’s latest predictions for Russia’s economy through the rest of President Vladimir Putin’s current term suggest it will be in good shape by the next election. The optimism may be too good to be plausible amid intensifying sanctions and Russia’s continuing war on Ukraine.
According to base-case macroeconomic forecasts through 2030 prepared by the Economy Ministry and seen by Bloomberg News, Russia expects robust annual growth of at least 3% in the last three years of Putin’s presidency. Inflation will be low and stable at the central bank’s target level, the estimates show, alongside sustained positive trends in investment, consumer activity and household incomes.