Marek Siwiec MEP on Poland & Europe

We got used to the impressive results of the Chinese economy. And we are not the only ones. A bit in the shadow of the giant there is Russia, where also interesting things are going on.

When Vladimir Putin ended the election festival, he began to speak specifically about the economy. He promised facilities for foreign investors, more economic freedom and that the economy will become a showcase of the new term.

The forecasts are encouraging. Western experts predict that during the next 5-7 years Russia will maintain the 3 percent economic growth and in the long term it might even reach 11 percent. Thanks to the high energy prices they attracted 514 billion dollars in reserves and the account surplus for last year was 100 billion dollars. Russia is a member of the World Trade Organization (WTO) and intends to join the Organization for Economic Cooperation and Development (OECD). The country recently ratified the Convention on fight against corruption, which does not mean, of course, that Russia itself fought it off.

I encourage that, while calculating the Chinese billions, you look more friendly behind the eastern border.


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