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Russian economy to grow lower than China but higher than Germany— expert

The Russian economy is open and it cannot develop irrespective of global rates, according to the expert

SOCHI, February 27. /TASS/. Russia should target the average global economic growth, Rector of the Russian Presidential Academy of National Economy and Public Administration Vladimir Mau told TASS on Monday at the Russian Investment Forum (Sochi 2017).

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PM Medvedev stresses Russia braved crisis, decline in GDP halted

"The Russian economy is open and it cannot develop irrespective of global rates. There are no potential for the recovering growth, for growth unrelated to the global one. In this sense the target is the average global one and it is fairly reasonable. Sometimes I call it differently - lower than China, higher than Germany," May said.

Absolute growth rates should not be set as target values because it is easy to speed up growth for the nearest two years by macroeconomic manipulations and then face a recession in several next years, the rector said.

Dynamics of private investments and purchasing power growth are more illustrative performance criteria of the economic policy, Mau added.

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