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Russian Federation More than ten years after the crisis, the Russian economy is growing slowly and the gap in GDP per capita with respect to the upper half of OECD countries persists. Rapid ageing and a productivity growth decline are hardly compensated by investment and improved labour market participation. Real household income growth is sluggish and poverty remains high. Widespread exposure to ambient air pollution and poor water quality have important health consequences. Poor energy efficiency causes high greenhouse gas emissions and weighs on the performance of the energy sector. The fiscal framework has improved with the adoption of the new fiscal rule in 2017. On the other hand, state control in the economy has increased, particularly in the energy and financial sectors. Barriers to foreign investment remain high and the transparency of the public administration is weak. Public support to R&D still fails to foster business innovation. Reducing government ownership and policies to improve innovation at the firm level could boost entrepreneurship, productivity and growth. Lifting the barriers to foreign investment and restrictions in trade in services, particularly in transport and logistics, would enhance competition and productivity. Public administration quality and efficiency need to be improved. The tax and transfer system needs to better address inequality and poverty. Growth performance, inequality and environment indicators: Russian Federation C. The large gaps in GDP per capita and productivity are stable
A. Growth Average annual growth rates (%) GDP per capita Labour utilisation of which: Labour force participation rate Employment rate1 Employment coefficient2 Labour productivity of which: Capital deepening Total factor productivity Dependency ratio
2002-08 7.4 1.0 0.7 0.3 0.0 6.0 1.3 4.6 0.3
2012-18 0.3 0.4 0.3 0.1 0.0 0.5 1.1 -0.6 -0.6
Level
Annual variation (percentage points)
-40
2015 37.7 (31.7)*
2013-15 -1.6 (0)*
-50
6.9 (7.6)*
0.3 (0)*
-60
2016 13.7 (10.9)* 0.6 (0.3)* 4.6
Average of levels 2010-16 13.9 (11.3)* 0.6 (0.3)* 4.8
Gap to the upper half of OECD countries5 Per cent 0 -10 -20 -30
B. Inequality and environment
Gini coefficient3 Share of national disposable income held by the poorest 20%
GHG emissions per capita4 (tonnes of CO2 equivalent) GHG emissions per unit of GDP4 (kg of CO2 equivalent per USD) Share in global GHG emissions4 (%) * OECD simple average (weighted average for emissions data)
-70 GDP per capita
GDP per hour worked
-80
Source: Panel A: OECD, Economic Outlook Database; Panel B: OECD, Income Distribution and National Accounts Databases and World Bank, World Development Indicators (WDI) Database; United Nations Framework Convention on Climate Change (UNFCCC) Database and International Energy Agency (IEA), Energy Database; Panel C: OECD, National Accounts and Productivity Databases; The Conference Board Total Economy Database. StatLink 2 https://doi.org/10.1787/888933955294