Photo: Ilya Naymushin / Reuters
Research investment Bank Bank of America Merrill Lynch (BofA) has shown that the Russian economy became the strongest among the ten largest developing countries (GEM-10). About it reports TASS.
The analysis involved 68 developing countries that were compared at 4, 8 thousands of indicators. Russia ranked first place, ahead of China, and became the owner of “microcube”, the study says BofA.
“Although Russia does not make the semifinals of the 2018 world Cup football team, she wins macroeconomic Cup among GEM-10, which unites the largest developing economy,” the study says.
Russia’s victory is associated with a reduction in the level of debt in the country. At the same time, China, which was in second place, on the contrary, increased the debt burden. According to analysts BofA Merrill Lynch, Russia has a very strong external liquidity, a balanced budget and current account and low external debt level, making its economy the strongest among these countries.
On 7 may Russian President Vladimir Putin signed a decree on the national objectives and core tasks, which mainly affect social sphere. However, later the head of the audit chamber and the Center for strategic research Alexander Kudrin questioned the implementation of the program. In his opinion, the Russian economy has not enough resources for the execution of the may decree.
According to the Prime Minister of Russia Dmitry Medvedev, the decree will cost the country 8 trillion rubles. The program will be implemented at the expense of the state budget, then the total amount of expenditure in the budget will amount to 25 trillion rubles.
Video, photo All from Russia.