Russia is over the worst
GDP is picking up, partly thanks to higher oil prices. But reforms are needed to consolidate the gains
Russia's economy is recovering from recession, but is stuck in second gear because growth can't really take off without structural reforms and major investment. A recovery in oil prices has helped drag Russia out of a two-year downturn-its longest in two decades—while improvements have been detected in the real economy in agriculture, industry, cargo transportation and non-residential construction. But household income, spending habits and consumption remain under severe pressure. In late March, finance minister Anton Siluanov upgraded the country's growth outlook for 2017 to 1.5-2% from 0.6%. "On the whole, we agree that the economy will be growing faster than initially expected," he said.
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
