[crz]

"Anderson underlined that Russia should not place emphasis on production of raw materials, because according to economic estimates, raw materials prices were to drop soon."


Bull! They have VAST resources and they intend to exploit them. All they need is the roads/RR to get to them.

[DustyMoment]

I don't think you can take this at face value. Russia is going to leverage the sale of its pollution credits from Kyoto to increase its economic growth. With a little economic manipulation and mumbo-jumbo, they will suddenly become an "economic growth leader", even though it is unlikely that any real economic growth will occur.

[G.Mason]

Ah ... the crystal ball has become clear.

Here Mr. Roulette man ... place this hundred thousand on RED.

[crz]

After short thought..what do these geeks think makes for economic growth? They tend to think that money comes from nothing. How do they think that Russia is going to expand without any Mining, Logging and Farming? Without any one of those three they will not expand economically. All Russia has to do is create the capitalist atmosphere to get going. Which, it appears they are about to screw up real fast.

The country never ceases to amaze me. They can become the richest country ever on the planet and they continue to mess it all up at very turn.

[elfman2]

Call Me Now!

[silverleaf]

If the government succeeds in creating the conditions favoring small business and the sectors of economy other than raw materials production, the medium-term economic growth rate forecast might be increased to 5-7% per annum," the expert stressed.

Well gee, that's a mighty big IF. Having been to Russia (not Moscow- the real Russia that lies in the many time zones to the east) I can say...I have never seen such a sad, hopeless and depressed society, from the struggling middle class (what there is of it) and down (and there is a lot of "down")..

again, I am not talking about the cities that the World Bank experts see on their conferences...I am talking about real life in small towns.

While the wealth of the raw material (oil and minerals) being extracted (raped) from Russia may increase the wealth of many on paper and some who have accounts in Swiss banks, I do not see the optimism the tone of this article takes. Unless maybe the management of the country is turned over to Sam Walton and Donald Trump.

[Ron in Acreage]

They have a 13% flat tax on income. Very simple and worker friendly. Also when you start at the bottom of the economic spectrum, it's hard not to have steady growth for the forseeable future. As long as the old guard commie/socialists stay out of the way.

[Quix]

I don't think so.

Losing most of their military on the plain of Megido attacking Issrael should cost them quite a lot. I think they will be one of the most devastated countries on the planet.

[tm22721]

The Russian mafia is a growth industry thanks to Putin.

BUMP

[alloysteel]

If Russia is going to be a leader in economic growth and development over the next 30 years, they had better get going. Despite the plentiful availability of raw materials and a reasonably well-trained work force, there is insufficient capital concentrated on crucial areas to develop into a real boom economy.

Of course, a little vision and encouragement from the right place could just get this fire lighted.

Unfortunately the George Soros of the world have sucked all the oxygen out of a number of these developing countries, by speculating on, then dumping, large chunks of their currency. Then the proceeds are used to try to throw the Bush Administration out of office and fight efforts to reform the UN.

[colorado tanker]

I'm skeptical. Russia has been riding high oil prices for much of it's recent growth, and they're peaking, likely to decline in the future. They did great damage to the foreign investment climate by taking down Yukos. Russia won't really rev up until it establishes a reliable rule of law in the business sector and convinces the international community there will be no more Yukos's.

[GOP_1900AD]

Russia is more Asian than European in terms of landmass and geography and stands to benefit from the overall Asian growth trend.

[Humvee]

With an economy smaller than the Netherlands thay have one helluva' lot of catching up to do.

[<1/1,000,000th%]

LOL!

This on the heels of reports that oil producers are fleeing the country over uncertainty in the Russian economy.

[12 Gauge Mossberg]

The article fails to take in account Russia's low birthrates and high death rates among men due to alcoholism and poor nutrition.