The improving economic situation in Russia: reality or creative statistics? OSW COMMENTARY NUMBER 240 | 05.05.2017

Wiśniewska, Iwona (2017) The improving economic situation in Russia: reality or creative statistics? OSW COMMENTARY NUMBER 240 | 05.05.2017. [Policy Paper]

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Abstract

The indicators published in recent months by the Russian Statistics Office (Rosstat) are much more optimistic than the estimates and forecasts announced several months earlier. A significant improvement in statistical data is evident in particular regarding the figures for GDP and industrial production. According to new information, over the last two years (2015-2016) the Russian economy shrank by 3%, and not by 4.5% as previously estimated. Moreover, data compiled by Rosstat show an increase in industrial production was registered, even in the face of a decline in citizens’ income and fixed investment. In addition, the slowdown in the industrial sector was found to have ended at the beginning of 2016 and not at the end of 2016 as previously reported.

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