Putin’s Economic Challenge

In an article in The Wall Street Journal journalist Ira Iosebashvili outlines President Vladimir Putin’s economic challenge. The article contends that even if Putin proves to be a reformer of unprecedented proportions and manages the task of weaning Russia off its dependence on oil exports, economic growth in the next two decades may be moderate at best. An economy ministry forecast in April showed Russia’s gross domestic product growing at 4.5% to 5% until 2030 in a best-case scenario, far below the growth Putin has promised to deliver.