This year, Russia’s economy will outrun Germany’s economy in terms of purchasing power parity, Russian Minister of Economic Development Maxim Oreshkin said on Monday, February 18.
According to the International Monetary Fund, Russia ranks sixth in terms of purchasing power parity. Germany ranks fifth, but in 2018, Russia managed to show a bigger economic growth. The Russian economy will show a bigger growth than the Germany’s in 2019 as well and will outrun Germany in terms of purchasing power parity, News.ru online publication writes.
According to Maxim Oreshkin, the main goal today is to preserve the current pace of economic development.
“It is important to avoid financial crises similar to what we saw in 2008 and 2015. The ministry is currently working on it,” Oreshkin said.
In early February, the Russian Federal Service for State Statistics (Rosstat) reported that the Russian economy grew by 2.3% in 2018, which is the biggest growth since 2012.