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Russia’s Economic Growth Characteristics in 2017–2018: Incentives and Constraint

Sergey Drobyshevsky – Scientific Director of the Gaidar Institute, Doctor of Economic Sciences, Associate Professor. E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Sergey Sinelnikov-Murylev – Academic Director of the Gaidar Institute; Pro-rector of the Russian Presidential Academy of National Economy and Public Administration; Rector of the Russian Foreign Trade Academy under the Ministry for Economic Development of the Russian Federation, Doctor of Economic Sciences, Professor. E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it. ; This email address is being protected from spambots. You need JavaScript enabled to view it.

2017 year-end positive results, particularly real GDP growth recovery, fixed investment growth, reflected largely the termination of the cyclical downswing phase for the Russian economy. However, structural and external factors in 2018 will not be able to shore up economic growth. To ensure a sustainable economic growth, a new government should be focused more on structural reforms including a fiscal manoeuvre, denationalization of the economy and deregulation of foreign economic activities.

Key words: Russian economy, economic growth, forecast for 2018.