Russian Economy Grows Faster Than the European Economy

UN raised the forecast of GDP growth in Russia. According to experts of the organization in 2010 Russia's economy will grow by 4,3%, and in 2011 - by 3%. In January, the UN predicted that the growth of Russian GDP in the current year will amount to 2,8%.

It should be noted that earlier that same day, 26 May, the forecast for global economic growth in 2010 increased and the Organization for Economic Cooperation and Development (OECD) - with 3,4% to 4,6%, while Russia's GDP growth was also revised upward - from 4,9% to 5,5%.

Most analysts said that Russia will be a key factor in boosting the recovery in consumer demand and energy prices. Revised forecast of Russia's GDP is related not only to higher prices for raw materials, which was particularly noticeable at the beginning of the year, but with recent macroeconomic data.

According to experts, the costs of the State are no longer increasing, and the anti-crisis support is remained in the past. Domestic demand began to grow. This is shown by the data on import. The export is also recovering steadily since the end of last year, although it is clear that the comparison is still performed with weak months of 2009.