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Russia has long been ahead of countries considered developed — finance minister

In May, the World Bank updated its GDP data at purchasing power parity, taking into account data for 2021, Russia entered the top four economies in the world

MOSCOW, October 18. /TASS/. Russia has long been ahead of countries that call themselves developed, especially those in the post-Soviet camp. It is necessary to reconsider the concepts of "developing" and "developed" countries, Russian Finance Minister Anton Siluanov said at the plenary session of the Moscow Financial Forum.

"They now say 'developing countries', 'G7 countries', 'developed'. Russia is actually a country with an established economy and revenues. It seems to me that we need to reconsider all these 'developing', 'developed' notions. We have long been ahead of those countries, especially those in the post-Soviet camp, which are considered developed, based on the figures that we see," Siluanov said.

In May, the World Bank updated its GDP data at purchasing power parity, taking into account data for 2021, Russia entered the top four economies in the world. According to the World Bank data, Russia took the fourth place with a share of 3.8% in the global GDP already in 2021, pushing past Japan (3.7%) and Germany (3.4%).

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