Russian economy under Putin: Quality of life tripled, foreign debt fell 75%


Vladimir Putin was first elected as Russian President in 2000. Here’s how the Russian economy has transformed in the intervening years by numbers.

Quality of life

Before Putin’s election, Russia had a $9,889 GDP per capita by Purchasing Power Parity (PPP). The figure had almost tripled by 2017, and has now reached $27,900. Russia has the highest GDP per capita among its fellow BRICS countries, with the next-highest, China, having just $16,624. The PPP takes into account the relative cost of living and the inflation rates of countries in order to compare living standards in different nations.

The average nominal monthly wage has grown almost 11-fold from $61 to $652. Unemployment has contracted from 13 percent to 5.2 percent. Pensions have grown over 1,000 percent in the same period from $20 to $221.

source: https://www.rt.com/business/417135-putin-presidency-economic-growth-russia/

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Author: Rayan M

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