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NPD in Russian Federation
The report provides an update of some of the developments in environmental expenditure and finance in the Russian Federation.
Further to a meeting of its governing Council on 12 March 2014, the OECD has postponed activities related to the accession process of the Russian Federation to the OECD for the time being.
Russia has demonstrated good resilience during the financial and economic crisis, though the speed of convergence has been lower than in most BRIICS countries, and growth has slowed more recently.
These statistics set out industrial production of total industry, manufacturing, manufactured crude steel, manufactured intermediate and investment goods, energy, construction. The series are updated continuously and are shown as seasonally adjusted indices. The series are updated continuously.
Retail trade (volume) series are shown as seasonally adjusted indices. For most countries, the volume indices are compiled by national sources. For the remaining countries, the value figures have been deflated by OECD using an appropriate consumer price index. The series are updated continuously.
Although recently we have observed signs of a pick-up in employment and investment in some countries, there are no clear prospects yet for a strong global recovery and a return to the pre-2007 growth path.
The Russian Federation’s economy is growing, but further reforms are needed to bolster future growth, improve the business climate and strengthen innovation, according to the OECD.
Despite the slowdown of the world economy, Russia has continued to grow. Most importantly, your macroeconomic house is basically in order, with inflation largely under control, public finances close to balance, and a current account surplus. But growth must become sustainable and fair through the implementation of the right policy mix, said OECD Secretary-General.
Mr. Angel Gurría, Secretary-General of the OECD, was in Moscow to attend the Gaidar Forum where he presented the OECD Economic Survey of the Russian Federation. His visit also included meetings with Prime Minister Medvedev, Deputy Prime Minister Shuvalov and members of the cabinet and the business community.