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Russia among world’s top five states in terms of GDP on purchasing power parity — official

If the World Bank continued the Doing Business rating’s calculations Russia would have joined top twenty countries by now as requested by the country’s president, Andrey Belousov noted

MOSCOW, February 27. /TASS/. Russia is one of the world’s top five countries in terms of GDP on purchasing power parity despite sanctions and the pandemic, First Deputy Prime Minister Andrey Belousov said.

"Despite the COVID-19 (pandemic), sanctions that started not in 2022 but in 2014, <…> Russia still moved quite confidently in the rating of global powers and today it is firmly one of the world’s leading countries in terms of GDP on purchasing power parity. The consistent improvement of business climate in the country is one of major factors behind that," he said at the RUSSIA EXPO.

If the World Bank continued the Doing Business rating’s calculations Russia would have joined top twenty countries by now as requested by the country’s president, Belousov added.

The World Bank discontinued its annual Doing Business reports in 2021 following data irregularities revealed in several publications. Moscow’s ranking in the rating was 120th since 2012, while in 2019 the country climbed three notches to the 28th spot. According to decrees setting the national development targets up to 2024 signed by President Vladimir Putin in May 2018, Russia was to become one of top twenty counties in the rating within six years.

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