Plus 5.5 percent of GDP – economic results of Dmitry Medvedev presidency
FBK has appreciated economic results of Dmitry Medvedev four-year presidency*. By the main national measure – GDP – Russia has shown 5.5 percent growth for four recent years. Real disposable money income of population has increased 11.8 percent. «These years were uneasy for the national economy. The first wave of the world financial crisis (2008-2009) fell on just this period, - Igor Nikolaev, Director of FBK Strategic Analysis Department, says. – Nevertheless the Russian economy has shown more than modest growth what is confirmed by the results of comparative country analysis».
According to FBK data by the growth of GDP for four years Russia is on the 11th place among the G-20 countries and on the last 5th place in the BRICS group. China which GDP growth amounted 44.2 percent during 2008-2009 years is in the lead of both groups.
FBK analysts also point out that in most of universally recognized world ratings Russia has demonstrated the worsening its positions. In particular by the index of competitiveness the country fell to the 66th place in rating of 2011-2012 in comparison with the 51 th place in rating of 2008-2009. An exception is the rating on perception index of corruption (Transparency International) –transition from the 147th to 143 th place. «The positive dynamics on this index is evidently provided by noticeable anti-corruption law-making activity», - Nikolaev supposes.
In the analyst opinion the analysis of fulfilling the tasks set in presidential messages in that period shows that they have being also carried out far from brilliantly. Only increasing of pensions may be definitely considered as fulfilled.
«The accepted after 18-year talking process the solution of Russia entry into WTO may be considered the main achievement over recent four years, - Nikolaev noted. – At the same time the solution of such problems as struggle against corruption, establishing the world financial centre in Moscow and optimization of state sector parameters and etc. may be appreciated as unsatisfactory. The solution of similar tasks is extremely far from completing as before».
The full research text in Russian can be looked through here.
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* Formally four-year analyzable period must begin in May 2008 and end in May 2012 accordingly. However in view of the statistics by GDP and a number of other measures is made by the quarter (but not in all countries), the analyzable period has been determined from 2008 to 2011 inclusive.