The World Bank in Russia

After a prolonged recession, Russia’s economy has continued to grow since 2017, supported by stronger global growth, higher oil prices, and solid macro fundamentals.

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NEW ECONOMIC REPORT

Russia’s Growth Prospects

Maintaining stability is crucial to Russia’s growth and poverty reduction goals.

DOING BUSINESS 2019

Russia Improves Business Climate

Russia continued its efforts to enhance the regulatory environment for small and medium enterprises.

HUMAN CAPITAL INDEX

RUSSIAN FEDERATION

HCI quantifies the contribution of health and education to the productivity of the next generation of workers.

Country At-A-Glance

Russia’s economy emerged from recession to recovery in 2017. Deepening macroeconomic stability, firming energy prices, and a recovering global economy contributed to the return to growth. However, a renewal of solid growth will need private investment and a lift in consumer sentiment. Structural reforms designed to bolster investor confidence could greatly enhance long-term growth prospects.

Overview

Data

Project

Second National Hydromet System Modernization Project

The main objective of the project is to assist the Russian Federal Service on Hydrometeorology and Environmental Monitoring to further enhance the national capacity to deliver reliable and timely weather, hydrological and climate information.

Projects

Research

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Policy Note Dec 18, 2018

Russia Green Finance: Unlocking Opportunities for Green Investments

Summary Report Dec 17, 2018

Education Equity in the Russian Federation

Economic Report Dec 04, 2018

Russia’s Economy: Preserving Stability, Doubling Growth, Halving Poverty – How?

Report Oct 29, 2018

Unleashing the Power of Digital on Farms in Russia - and Seeking Opportunities for Small Farms

Russia in Figures

Find data and facts about the country's development progress.

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The Human Capital Index quantifies the contribution of health and education to the productivity of the next generation of workers. Countries can use it to assess how much income they are foregoing because of human capital gaps, and how much faster they can turn these losses into gains if they act now.

Russia Overview | In Russian | Full Data

Monetary policy remained consistent with the inflation-targeting regime, and is moving from moderately tight to neutral. Moderately tight monetary and fiscal policies, in combination with a favorable external environment and some one- off factors, let the Central Bank of Russia (CBR) to reach a record-low level of CPI inflation in 2017. CBR continued its gradual approach to monetary easing, moving from a moderately tight policy to a neutral one. Annual inflation now stands at a record-low level, even below the CBR’s target of 4 percent, while inflation expectations, though trending downward, remain elevated (Figure 5a). However, pro-inflationary factors are on the rise, as discussed later in the outlook section. Russia Economic Report 39

In 2017, the export value of goods in all categories – except for energy goods, metals and wheat, other important commodities exported by Russia – increased by 17%, y/y. Export value of tradable services such as ICT and business services increased by 21.6%, y/y and 7.8%, y/y respectively.

While this is a positive development, the share of oil and gas exports in total export of goods (by value) remains high at 58.7%.