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Russia’s GDP must grow by 3% per year to maintain its position as fourth economy — expert

Sberbank CEO Herman Gref noted that if Russia's GDP grows in accordance with the forecast - by 1.8% per year, then by 2030 the country may lose its fourth place

MOSCOW, June 7. /TASS/. GDP growth must be at least 3 percentage points annually for Russia to remain the fourth largest economy in the world by 2030, Sberbank CEO Herman Gref said at the St. Petersburg International Economic Forum.

"Achieving the goal set by the President of Russia to be the fourth economy in the world by 2030 means economic growth in GDP of at least 3 percentage points per year. As this goal was set, the World Bank changed its forecasts, and it turned out that the day before After the publication of our panel, we have already become the fourth economy in the world. However, we should not rest because our competitors among the largest economies in the world are right behind us," Gref said according to the bank’s press service.

He noted that if Russia's GDP grows in accordance with the forecast - by 1.8% per year, then by 2030 the country may lose its fourth place.

The St. Petersburg International Economic Forum (SPIEF) is held on June 5-8. This year’s theme will be "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.

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