Russia’s economic prospects

Modernisation or stagnation?

By David Clark

A new policy paper published today by The Henry Jackson Society warns that Russia’s reduced economic prospects could lead the Kremlin to adopt a more aggressive foreign policy in the years ahead. “Russia’s Economic Prospects – Modernisation or Stagnation?”, authored by Central and Eastern Europe specialist and former Foreign Office Special Adviser David Clark, finds that: Without major reforms, Russian economic growth is likely to remain stuck at a level significantly below that of the early years of Vladimir Putin’s first presidency, with both GDP and living standards essentially flat since the 2008 financial crisis. The economic reforms necessary would pose a considerable threat to the authoritarian brand of government that has defined Putin’s time in office.

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