Putin’s Plan to Double Russian Growth Is Likely to Fall Short

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Putin’s Plan to Double Russian Growth Is Likely to Fall Short

By the time his term ends in 2024, President Vladimir Putin wants Russia’s economy to be growing sustainably by 4% a year, twice the average pace of 2017-18. At the center of his development agenda are 13 National Projects, which the government estimates will cost about $396 billion. The numbers sound big, but annual GDP growth is likely to remain stuck around 2% without greater spending and deeper reform, Bloomberg Economics’ research suggests.

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