Russia » Economics

Will Russia ever catch up with the US? (survey of Russian politicians)

Russia can catch up with the USA earlier than in 2041.
We are doing good in food industry and in producing weapons. We have to benefit from our natural resources and invest in chemical industry and oil refinery, says Vladimir Kostakov, director of Institute of Macroeconomic Research.

This is possible if we take the shadow economy (money-laundering, fishing resources trading) into account. The shadow economy is 25 percent of overall Russia economy, and the majority of money goes into somebody’s pockets, says Elena Titov, head of department in the Ministry of Economics of Rostov region.

When our industries work at least at half of their capacities, we will be able to speak about competing with the US economy, says Vyacheslav Astankov, director of the Department of Construction in Voronezh region.

Russia and the USA have many similarities. The core of their economies is in the other countries. Americans are in search of new technologies, while we are trying to restore the half-ruined economy by selling oil abroad, says Pavel Zolotarev, mayor-general, President of the Foundation in Support of Military Reform.

This will not happen in the 40 years to come. Russia needs serious structural reforms, while the current state of affairs produces only negative impression, says Jason Bush, correspondent of Business Week in Moscow.

Why should we catch up with Americans? At least, Volgograd region has not the task of this kind. They had better to catch up with us, for example, in terms of the amount of organic food and fresh air, says Nikolai Maksyuta, governor of Volgograd region.

We can reach only half of the US GDP per capita, and not by selling oil, but by developing the other sectors of the economy and increasing the competition on the domestic market, by creating good laws and abiding them, says Evgeny Yasin, the research  director of the School of Economy.

We need neither catch up nor surpass the USA. Russia has to create normal living standards for its people, and this will happen much earlier than 35 years from now. After that, the issue of surpassing the USA will not interst anybody, says Sergey Stepashin, Chair of Russian Auditing Chamber.

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