Bloomberg News

Russia May Overtake Germany as No. 5 Economy by 2020: PWC

January 16, 2013

Russian gross domestic product may overtake Germany’s by 2020, making the Russian economy the world’s fifth largest, PricewaterhouseCoopers LLP said in a report today.

“Russia has strong potential in the short to medium term,” PWC’s chief economist, John Hawksworth, said in a phone interview from London today. “It has strength in natural- resource sectors, which are much in demand.”

Russia, the world’s biggest energy exporter, will face declining growth in about a decade because of an aging population and shrinking workforce, Hawksworth said. By 2050, Russia’s economy is projected to fall back to sixth place in purchasing power parity terms, behind Japan, Brazil, India, the U.S. and China, PWC said in the report on its website.

To contact the reporter on this story: Henry Meyer in Moscow at hmeyer4@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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