The famous American newspaper Chicago Tribune published an article on the Russian economy. In the text it was stated that under the leadership of Vladimir Putin, the country’s economy is in the process of major restructuring.
In particular, we are talking about growth in agriculture, pharmaceutical and chemical industries, as well as the development of information technology. Deputy Minister of Finance of Russia Maxim Oreshkin said that the moment is rapidly gaining pace the growth of the food industry and the sphere of domestic tourism.
The authors believe that by the third quarter of the current year for the longest recession in Russia will come to an end. Annual inflation in 13 years has decreased from 16.9% to 7.3%. The GDP rose to 4.4% (the best figure since 2003). The big breakthrough occurs in getting the net profit of agriculture. In 2015, it increased almost two times (+45%) and amounted to 272 billion rubles.
The publication notes that the most difficult time for Russia was the period of falling energy market and the introduction of Western sanctions. However, the country stoically endured it, and now see the results of the work done. The Chicago Tribune notes that the agricultural sector of the Russian Federation began its development back in 2005, so after the introduction in 2014 of the embargo, the industry will immediately “shot” and made the leap.
Earlier, Finance Minister Anton Siluanov said that the country has adapted to external conditions and to the end of the year should go to the positive growth of the economy.
The European Bank for reconstruction and development noted that in 2017, Russia’s economy will go from recession to growth, and by the end of 2016, GDP will increase by 1%.
