Russia » Economics
Author`s name Dmitry Sudakov

Russian Economy To Become Strongest in Europe in 20 Years

Russia will become the country with the strongest economy in Europe in 20 years and will be ranked 5th on the world rating, PricewaterhouseCoopers LLP specialists said in their recent report, Itar-Tass news agency said.

Russia’s economy in Europe will be the strongest by 2030, specialists of the world’s largest auditing and consulting company said. Germany and France will come next on the list.

The world economy is on the brink of experiencing a geopolitical revolution, the report said. The traditional leaders – the industrially developed countries of the West united in the Group of Seven (the USA, Japan, Germany, France, Britain, Italy and Canada) - will be replaced with a new group – E7. The new association will unite the countries of the emerging market – China, Russia, India, Brazil, Mexico, Indonesia and Turkey.

By 2019, the overall GDP of the E7 group will let it catch up with the G7. A decade later, by 2030, the E7’s GDP will take a 30-percent advantage of that of the G7.

By 2030, the list of world’s strongest economic countries will be as follows: China, USA, India, Brazil, Russia, Germany, Mexico, France and Britain.

It is worthy of note that Fitch Ratings downgraded the forecast of the rating of the Russian Federation from “stable” to “negative” on Friday, Jan. 22.